Dr. Williams Peprah
Associate Professor of Finance at Andrews University in the USA, Professor Williams Peprah, has urged the government to seek funding from the Treasury market to settle matured investments – coupons and principal of the Pensioner Bondholders, saying, the calls for their investments to be settled must be treated with urgency because of their age.
He, however, suggests that, if settling both the coupon and principal investments will be a challenge, then the government should focus on paying solely the coupons in the interim.
“The suggestion by the pensioners is valid. Government can decide to swap some of these coupons and principal payments, factor them into the Treasury bill demands and find a way to make payments to them”.
“If the government cannot pay the principal, the coupon payment can be factored into the cash flow demands from the treasury bills side and be paying them; at least that will slow down the pressure,” he added.
Prof. Williams Preprah continued that government must step up its game, if it means giving up on some expenditure to settle pensioners as many of them depend on these assets, adding “life is at stake now and it’s getting very critical”.
He also advised government to heed to the demands of the pensioners and engage them further on how it intends to pay all their outstanding coupons.
“If you listen to the pensioners, all that they’re requesting government to do is to give them some cash so that they will be able to take care of their medical needs”.
“We are all human beings, we have to be very much aware that once you get to this age and you cannot work, you only depend on stable income and the bond market is noted to give some kind of fixed income. So the coupon payment is what they rely on” he continued.
Members of the Pensioner Bondholders Forum resumed picketing at the Ministry of Finance today, May 8, 2023, to further press home their demand for the payment of all their outstanding coupons and principals.
The picketing which lasted between 10 am to 11 am is expected to continue on every working day until further notice.
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