Finance Minister Ken Ofori-Atta has stated Ghana's economy is highly likely to collapse should government fail to secure a credit facility with the International Monetary Fund (IMF).

Engaging pensioner bondholders on Monday, February 6, Mr Ofori-Atta entreated them to accept a 3.5% cut and accept the new terms of 15% coupon rate and 5% maturity to avert such an unfortunate situation.

“We really feel that government has listened, there is humanity to us, we are protecting the destitute, widows and the orphans and the older people who have worked for this nation. We are in a crisis, we cannot put our heads under the sun and pretend that we are not."

“We need to be mindful that we really need to be successful in going to the fund by this March to avoid what we all experienced last year which we all don’t want to experience again," he said.

Pensioners gathered at the Finance Ministry today to register their displeasure against the inclusion of their bonds in government’s domestic debt exchange programme.

The pensioners who are part of the Pensioner Bondholders Forum, want the government to completely exempt them from the debt exchange. They believe the inclusion of their bonds will negatively impact their livelihoods.

The closure of the invitation for holders of the government’s bond to subscribe to the programme expires tomorrow, Tuesday, February 7, 2023.