She said the government is committed to paying them the coupons on their bonds.
The Deputy Finance Minister earnestly implored the pensioners to temporarily suspend their protest while the government actively seeks funds to fulfil their obligations.
She emphasised that the government is not intentionally neglecting the payment of outstanding coupons. Instead, the delay is primarily caused by the unavailability of funds and the prevailing economic crisis.
“We don’t intentionally stop them, sometimes it’s difficult, it is the ability to pay and so when it is not there it becomes a challenge, but we also have to communicate that to you. So, for now, our focus should be on the five outstanding, and then we talk about how we will manage the principal payment.
“I sincerely appreciate where you are coming from. This has never happened when coupons are ready for payment and the government is struggling to pay, but currently, we all know the circumstances we find ourselves in, so I will plead with you so let’s sit and clear, and then we will see the way forward.”
After a meeting between the Ministry and the Pensioner Bondholders, the group temporarily suspended their protest with the understanding that all overdue coupons would be paid, while discussions regarding principal payments would continue.
However, after two weeks the government has yet to engage the pensioners on the way forward, with some coupons still outstanding.