Pensioners take government to CHRAJ over unpaid interest

Finance Ministry promises to pay Pensioner Bondholders after five day protest

The government’s decision to withhold interest payments on overdue principal amounts has prompted the Pensioner Bondholders Forum to seek redress from the Commission on Human Rights and Administrative Justice (CHRAJ).

The group, which represents retirees who invested in government bonds, wants CHRAJ to rule on whether the government can keep their money without paying interest.

The group’s convenor, Dr. Adu Anane Antwi, said they will not give up on their interest claims, even if CHRAJ does not rule in their favor.

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He said they will resort to other forms of protest, such as picketing, to pressure the government to pay them what they deserve.

He argued that the government is not different from any other borrower in the country, and should pay interest on the money it owes to its citizens.

He said the government had agreed to pay interest on the principal amounts for three years, but failed to repay them when they matured.

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