Debt Exchange Program: We Want Total Exemption Not Extension – Martin Kpebu To Gov’t

Despite the third consecutive extension of the deadline for government’s Domestic Debt Exchange Program, lawyer for the Individual Bondholders Association of Ghana, Martin Kpebu says the association is still not enthused with the new twist.

The second extension which expired on Monday, January 16, 2023 was further extended to January 31 2023 through a statement by the Ministry of Finance.

Speaking on behalf of the association after the extension, Lawyer Martin Kpebu said they are not happy with the new extension. According to the legal practitioner, the new extension will only drag negotiations and prolong the pain some of his members are enduring.

To him, the only announcement the association wants to hear is the exemption of individual bondholders from the debt restructuring program.

“No, we are not (happy with the extension) because it just lengthens our pain. Matters are just getting elongated because they will say come and make the same argument at the table…Why do you have to take us through this painful journey of coming to the negotiating table to repeat all these arguments when thankfully for us the budget is a public document…we cannot say the government has no money?” he noted.

He added “all we expected was that government has heard the plea and cry of individual bondholders, we hereby exempt them. Simple! The word ‘exempt’ that’s what we are looking for. We are not looking for some big grammar which is subject to a thousand interpretations.”