A group called Pensioners Bondholders Forum is to picket at the premises of the Finance ministry this morning to fight for the protection of it’s members who have invested in government bonds and vow not to leave the ministry’s premises until it’s members are exempted from the Domestic Debt Exchange Program (DDEP).
A statement sighted by Pan African Television explains that attempts by the group to have their investment exempted from the program have not been fruitful, hence their decision to converge at the Finance Ministry until their demands are met.
“On 10th January 2023, we submitted a petition to the Minister of Finance to exempt all Pensioners holding government bonds from the Domestic Debt Exchange Program on the same basis used for the exemption of Pension Funds from the program, as the impact of the program on pensioners who are bondholders will be very severe”.
“We have as of today not been granted the exemption we requested. To further press home our request, we have notified the police that about 50 of our members intend to converge at the premises of the Ministry of Finance on every working day from 10 am-11 am, beginning from Monday 6th February 2023 till our request is granted by the Minister.” The deadline for the government’s Domestic Debt Exchange Programme has been set for Tuesday, February 7, 2023. The groups of Individual bondholders have also kicked against their inclusion in the government’s domestic debt exchange programme.