Individual bondholders will not participate in the debt exchange program, according to Martin Kpebu

 Martin Kpebu, the IBHAG's convener, claims that the Finance Minister has guaranteed that individual bondholders would not be subject to the domestic debt swap scheme.

Ken Ofori-Atta, the finance minister, has allegedly vowed to "pay Individual Bondholders their coupons and principal when they come due, essentially exempting us from the Domestic Debt Exchange (DDE) scheme," according to him.

The organization is awaiting official contact from the Finance Minister to confirm their exemption from the debt treatment, the Minister said in a news release confirming his promise.

"We appreciate the assistance of the Minister and his technical staff. We are also pleased that the government and the banks, insurance firms, and securities sector businesses have achieved an understanding over their participation in the DDE, he said.

This follows the government's proposal that, in an effort to revive the economy and reach an agreement with the IMF, all bondholders would not receive interest on their bonds for the fiscal year 2023. (IMF).

According to the government, dividend payments will probably start in 2024, at a discounted rate of 5%.

Individual bondholders, however, passionately disagreed with the decision and expressed their displeasure at the Finance Ministry's lack of previous communication over their involvement in the program.

Martin Kpebu has asked all individual bondholders to maintain their composure and refrain from purchasing the new bonds in light of the Finance Minister's about-face.