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we will cease picketing once Finance Ministry makes financial provisions – Bondholders Forum

Written by on June 26, 2024

For the fourth consecutive week, the Bondholders’ Forum has protested outside the Finance Ministry, demanding the release of their locked-up investment funds.

Despite their persistent requests, they have not yet had a meeting with Finance Minister Dr. Mohammed Amin Adam or his deputies to present their demands.

The group is urging the Bank of Ghana (BoG) and the Finance Ministry to declare NDK Financial Services, Bond Savings and Loans, SIC Life Savings and Loans, and SDC Financial Services insolvent and revoke their licenses due to their failure to release the bondholders’ funds.

Speaking to JoyNews’ Kenneth Gyasi during the picketing on Wednesday, June 26, the group’s leader, Dr. Adu Anane Antwi, mentioned that they have not received any assurance from the Finance Ministry regarding the necessary financial provisions.

He clarified that the bondholders would cease picketing once the Finance Ministry ensures the release of their funds.

“As soon as the Ministry confirms that they have made the necessary financial arrangements for the Bank of Ghana to revoke the licenses of NDK Financial Services, SIC Life Savings and Loans, SDC Financial Services, and Bond Savings and Loans, we will halt the picketing,” he stated

Dr. Antwi clarified that the group intends to persist with their protest until the Bank of Ghana takes decisive action.

He further emphasized that the government should be capable of making the required financial provisions without difficulty, particularly in light of the Finance Minister’s assertion that Ghana saved over $8 billion from external debt restructuring.

“Considering the Finance Minister’s statement that Ghana has saved over $8 billion from external debt restructuring, funds should be available. The government must prioritize settling all locked-up investments in this market.”

He also stressed the importance of stabilizing the financial market by utilizing these savings to address all outstanding obligations.

Other members of the group echoed their frustrations, noting that their grievances remain unaddressed by the government and urging authorities to take swift and serious action.

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