Gov’t Has Settled All Outstanding Coupons Owed Bondholders- Finance Ministry

The Ministry of Finance has announced the settlement of all outstanding arrears on coupons and principals of individual bondholders up until 19th June.

The announcement comes on the eve of a planned picketing at the Finance Ministry by the Bondholders today Tuesday, July 11,2023  to demand the payment of their outstanding principals and coupons.

The coalition of Individual Bondholder had accused the government of failing to honor the agreed payment plan outlined in the Memorandum of Understanding (MoU) signed with the Coalition of Individual Bondholders Groups (CIBG).

The statement announcing the payment issued on Monday, July 10 stated “The Ministry of Finance takes this opportunity to thank all bondholders for their continuous support during this period of tight liquidity.

“Government is confident that in working with all stakeholders, we shall restore macroeconomic stability, achieve inclusive economic growth, and transform the Republic.”

The Bondholders who had already mobilised themselves for the picketing called of the planned protest immediately upon the announcement but said they will resume their protest if government betrays the trust.