retirement woes

Ghana: Pensioners halt protest following payment promise

By Jonas Nyabor

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Posted on May 16, 2023 15:52

 © The Ghana  cedi (Photo by Issouf SANOGO / AFP)
The Ghana cedi (Photo by Issouf SANOGO / AFP)

Pensioners in Ghana put a stop to the most recent swathe of protests after a payment deal was reached between the Pensioner Bond Holders Forum and the government on 15 May.

According to the most recent agreement, Ghana’s Ministry of Finance has agreed to pay all outstanding coupons, will continue to pay subsequent coupons, and will arrange a meeting with the Forum to agree on payment of all outstanding principals to pensioners.

Pensioners – who are exempt from the Domestic Debt Exchange programme (a debt restructuring exercise to help the country manage its finances) – have engaged in a number of protests outside of the Ministry of Finance after delays to coupon and matured investments payments, which many rely on to fund their retirement. 

“We asked the government to pay before leaving the ministry’s premises,” Adu Anane Antwi, convener of the Pensioner Bondholders Forum, said at the picket line.

“Payments… have started trickling in and people have confirmed receiving it but the government should continue to pay until all arrears are cleared,” he said.


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