We’ll pay you on March 16 – Gov’t tells Bondholders

The government has promised bondholders who did not participate in the Domestic Debt Exchange Programme (DDEP) that procedures to settle payments on existing bonds will begin on March 16, 2023. In a statement released on March 14th, the Ministry of Finance stated that the procedures had started on March 13th. The assurance comes after dissatisfied bondholders expressed worries about the failure to pay matured coupons and principal on the due date, notwithstanding previous assurances issued in the aftermath of the Plan. “The initial instruction covers coupon and principal payments on bonds...

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