Convenor of the Individual Bondholders Forum, Senyo Hosi, has described the policy document of the government’s second round of debt exchange programme as a “good deal.”
According to him, the terms of this policy are more favourable in comparison to the earlier debt restructuring exercise and thus must be critically analysed by pension funds that are its target.
Speaking on JoyNews’ PM Express, he said, “It’s a good deal, no two ways about that. That it is technically or financially a good deal, but inherent may be political risk. But outside of that is a political risk that pension funds will always have to face because their liabilities are long term not short term.”
He noted that the main opposition to the programme from the labour unions is due to the government once again not prioritizing stakeholder consultations.
“I don’t think that if government manages the consultation properly and the communication properly, it can’t get some progress with the labour unions and the trustees. You could hear from the trustees – because they’re a bit more technical – and they realize that if you’re actually looking at boosting pensions returns of the union members, it is rather the deal you should take.
“Because you’re actually going to have a pie yield of about 21 and today you’re around 18 or 19.02 five pie yields on the current papers. So you [the government] just need to carry people alon,” he said.
Latest Stories
-
NAPO is under investigation for mathematical sets procurement, other issues – Dep AG Srem Sai reveals
56 minutes -
Dozens of ex-gov’t officials quietly answering for their tenure without fanfare – Dep AG Srem Sai
1 hour -
South African business confidence edges up in May after big drop in prior month
2 hours -
‘Plea bargaining is our game-changer’ – Dr Srem Sai declares new era in asset recovery
2 hours -
ORAL: Deputy AG Srem Sai backs plea bargaining to recover stolen wealth
3 hours -
Barrick Mining removes Mali gold complex from 2025 output forecast, sources say
3 hours -
Trump says rare earths deal ‘done’ with China
3 hours -
Nearly 50 people killed in South Africa floods
5 hours -
Kenya’s Ruto says blogger died at hands of police, shifting official account
5 hours -
Calm returns to Los Angeles after hundreds arrested
6 hours -
‘We’re working overnight, but we can’t publish everything’ – Deputy AG Srem Sai
6 hours -
ORAL process is not slow, its moving fast, Deputy AG Srem Sai tells Joy News
6 hours -
Ex-convict remanded over alleged romance scam, sextortion
7 hours -
Court remands suspect over Nsawam-Adoagyiri riot
7 hours -
Police arrest fake doctor over fraud
7 hours