Government has assured all bondholders who did not participate in the recently rolled out Domestic Debt Exchange Programme (DDEP) that their coupons and maturing principals will be paid.
It said the payment will be honoured in line with government’s fiscal commitments like for all other government bonds.
The assurance was given after closure was brought to the Programme on Friday, February 10 amid protests from some individual bondholders seeking exemption.
But government announced on Tuesday, February 14 that over 80 percent of bondholders voluntarily signed up to the Programme.
Expressing gratitude to all these bondholders, government said it has pushed the country closer to securing a bailout from the International Monetary Fund (IMF).
“We would like to stress that, all individual bondholders, especially our Senior Citizens, should rest assured that their coupon payments and maturing principals, like all Government bonds, will be honoured in line with Government’s Fiscal commitments,” a press release issued by the Ministry of Finance on Tuesday said.
It indicated that the Programme was rolled out to help protect the economy and “enhance our capacity to service our public debts effectively”.
“The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis.
“The Government is, therefore, grateful for the overwhelming participation of all bondholders.
“Your support and contribution has gotten your country much closer to securing the IMF programme.”
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