Individual bondholders are exerting pressure on the Finance Ministry to make good on its defaulted obligations to pay over 4 billion in interest and principal.
The Individual Bondholders Forum sent a letter to Ken Ofori-Atta, the Finance Minister, requesting payment for outstanding bonds that matured on February 6.
The Ghanaian Individual Bondholders Association has gone above and above. On Monday, a team from the group was present at the Police Headquarters to formally announce a 5-day protest.
From February 20 to 24, the demonstration is anticipated to begin.
At Black Star Square, the individual bondholders will be picketing.
A group of around 30 to 50 individual bondholders will be taken to the Finance Ministry by the agreement to deliver a petition, and they will return within an hour to the plaza.
Dr Joel Akwetey, one of the conveners, claimed in an interview that the government could stop the picketing by just paying the bonds.
"Actually, there won't be any picketing if [the government] pays. We're doing this in stages, and we anticipate hearing something positive from the ministry by next week's Sunday, February 20, at which point everyone can relax, he added.
He said, "We just want the government to respect the bonds that are due since we knew when we entered the DDE Programme that it was a voluntary procedure.
The government is therefore expected to recognise coupons if a person chooses to do so. As a result, we are closely adhering to the papers we have and the guarantee we had before the DDE programme that all voluntary bondholders won't be penalised and that their coupons would be honoured.
Martin Kpebu, a private attorney and organiser, said that in addition to keeping its pledge to bondholders, the government should also exclude specific bondholders from the Debt Exchange Program.
He believes that picketing for five days will rally greater support for the group's strategy of pursuing an exception.
He claimed that the exemption complaint is a battle that individual bondholders must win at any cost.
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