Akufo-Addo concerned about the issue of the pension bondholders – Dr. Amin Adam


The Minister of State at the Ministry of Finance, Dr. Mohammed Amin Adam, says the issue of the picketing pension bondholders has been an important one for the government.

According to him, President Akufo-Addo has called on the Finance Minister, Ken Ofori-Atta, to resolve the issue immediately.

“I mean, they’re our fathers, our mothers, we’re not happy that they come picketing at the Finance Ministry and these are people who have served our country. They’ve made significant sacrifices for our country,” Dr. Amin Adam said in PM Express Business Edition.

Pension bondholders have carried out a series of picketing in front of the Finance Ministry to demand the payment of their bond coupons.

According to them, government’s failure to release their funds timeously has placed their health and livelihood in jeopardy.

However, Dr. Amin Adam says while the government is keen on releasing funds for the pensioners, the government is faced with a liquidity challenge.

“But at the same time we’re saying that we still need their support, and so with the liquidity challenges that we have, they should give us some time, some allowance to put the house in order. They have not taken that kindly, but we continue to appeal to them.”

He added that the government has assured the pensioners that their coupons will be paid them within the week.

However, the pensioners will have to wait longer for the government to pay them their principals.

“At the moment, at the instance of the Minister for Finance, we held meetings with them, we negotiated with them and we’ve agreed to mobilise resources to pay off the coupon arrears which have accumulated since February.

“So we’re committed this week to pay all the [coupons] some may have even received their coupons in their accounts as I speak to you. You still have the principals that we’re asking to negotiate further. And so in the weeks ahead we’ll be meeting them to discuss the way forward as far as the principals are concerned.”

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