77-year-old sick retiree vows to sleep at GCB over bond refund

The sick bondholder told JoyNews that the returns from his bonds are what he depends on and that he will have nothing to survive on if he does not receive anything at the end of the month.

According to him, the uncertainties about the Domestic Debt Exchange Program come with fear and anxiety as he has no idea how will afford his medications and other everyday expenses.

He explained that he decided to invest in government bonds after he fell victim to ponzi scheme.

“I gave the money to the Ghana Commercial Bank so they’ll give me the money before I come. I’m going to stay there.

“If they say the money is not there, I’m going to stay there. I’m going to stay there until they carry me wherever they want to carry me because I cannot walk myself so they’ll carry me.

“Wherever they want to carry me they have to carry me and go. That’s the only thing I can do. I cannot fight them also”, he said.

Peter Kojo Nyansepe is one of many retirees watching on with anxiety as the Ministry of Finance rolls out the DDEP.

As part of conditionalities to achieve the IMF bailout, the government has recommended that all benefit due bondholders in 2023 not be paid.

Per the arrangement, the payment of the benefits will resume in 2024 at the rate of 5%.

This arrangement has been widely criticized with critics saying that the government is worsening the situation of the already burdened Ghanaians.