Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Ato Forson Warns SSNIT Board: Do Not Sell State Assets To Politicians
    • GoldBod Kick-starts Anti-Gold Smuggling Taskforce
    • Minority Digs Into Sansa Daly
    • DISCLAIMER: Annoh-Dompreh Not Part of Nsawam Chieftaincy Disputes
    • NEIP CEO Provides Support To June 3 Fire Victim Solomon Akugru
    • Sick Wontumi Suffers Day 7 In Detention
    • Cyber Security Authority Blacklist Over 40 Loan Apps
    • GoldBod Already Doing Wonders – Mahama praises CEO Sammy Gyamfi
    Facebook X (Twitter) Instagram YouTube
    InsightNewsgh.ComInsightNewsgh.Com
    • Home
    • News
    • Business
    • Entertainment
    • Politics
    • Sports
    InsightNewsgh.ComInsightNewsgh.Com
    Home»Politics»Gov’t ignored Parliament in Debt Exchange Program consultation – Majority Leader
    Politics

    Gov’t ignored Parliament in Debt Exchange Program consultation – Majority Leader

    Insight NewsBy Insight NewsJanuary 16, 2023No Comments3 Mins Read
    Gov't ignored Parliament in Debt Exchange Programme consultation – Majority Leader
    Gov't ignored Parliament in Debt Exchange Programme consultation – Majority Leader
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Prior to the announcement by the Minister of Finance, Ken Ofori-Atta, the details of the Debt Exchange Program were not provided to Parliament, according to the Majority Leader, Osei Kyei-Mensah-Bonsu.

    In an interview with Citi Breakfast Show on Monday, January 16, the Suame Member of Parliament said there were broad discussions about the economy but they did not have the details of the debt exchange programme.

    “There were meetings before the budget came to be consummated and later on presented by the Finance Minister. So we had broad discussions, but the details were not known to us at the time, but some consultations went on as to where exactly we were as a nation. But I am not too sure that this matter came up for discussion maybe the broad strokes were mentioned but not the details,” Kyei-Mensah-Bonsu told host Bernard Avle.

    Today, Monday, January 16, 2023, is the last day for bondholders to join the government’s domestic debt swap program.

    The government started the initiative to invite bondholders to voluntarily exchange about GH137 billion in domestic notes and bonds of the Republic, including ESLA and Daakye, for a bundle of new bonds in an effort to address the nation’s ongoing economic woes.

    In order to help bondholders better understand their alternatives, Mr. Kyei-Mensah-Bonsu also restated his prior request to the Finance Minister to organize broad consultations on the debt swap program.

    The inclusion of individual bondholders in the Domestic Debt Exchange scheme, according to the Minister for Parliamentary Affairs on Friday, January 13, might destroy the middle class and have a negative impact on Ghanaians’ savings habits.

    The Suame MP called on the Finance Minister to adequately engage with key stakeholders when speaking with a group of individual bondholders led by convener Senyo Hosi and private attorney Martin Kpebu on Friday after receiving a petition to exclude individual bondholders from the debt swap.

    “What we [are] talking about is that many of these bondholders also belong to the middle class and that’s where the major worry is. If we are wiping away the middle class, that could be dangerous, so we need to have some further dialogue on this. Government thinks that this is the best way forward, however, even if it is, we need to engage, reflect and then move on and that will encourage some people who have some doubt to better appreciate where we are.”

    He added, “Nothing can substitute for discussions, round table discussions and engagements wherever we find ourselves in. I think it’s important that we go back to the drawing table to have engagements with the major stakeholders… All of us are in it. And if we don’t manage it well, we’ve gone through this before, way back some 25, 30 years ago and repositioning was a major, major difficulty. Today many people are coming on board and if this thing should happen, how do we build confidence and trust and reconstruct a new savings culture?”

    Debt Exchange Program Majority Leader Parliament
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Insight News
    • Website

    INSIGHTNEWSGH seeks to give readers balanced, credible and neutral news from across Ghana and the world. We cover News, Politics, Business, Entertainment, Sports, among others.

    Related Posts

    Ade Coker Is Dead

    June 2, 2025

    NDC Has Put Ghana On Autopilot – Patricia Appiagyei

    May 28, 2025

    Minority On Fire …Firms Up Strategy for Parliament

    May 26, 2025
    Leave A Reply Cancel Reply

    ADVERTISEMENT
    Health Tips
    LATEST STORIES

    Ato Forson Warns SSNIT Board: Do Not Sell State Assets To Politicians

    June 4, 2025

    GoldBod Kick-starts Anti-Gold Smuggling Taskforce

    June 4, 2025

    Minority Digs Into Sansa Daly

    June 4, 2025

    DISCLAIMER: Annoh-Dompreh Not Part of Nsawam Chieftaincy Disputes

    June 4, 2025

    NEIP CEO Provides Support To June 3 Fire Victim Solomon Akugru

    June 4, 2025
    POPULAR

    Ato Forson Warns SSNIT Board: Do Not Sell State Assets To Politicians

    June 4, 2025

    GoldBod Kick-starts Anti-Gold Smuggling Taskforce

    June 4, 2025

    Minority Digs Into Sansa Daly

    June 4, 2025

    DISCLAIMER: Annoh-Dompreh Not Part of Nsawam Chieftaincy Disputes

    June 4, 2025

    NEIP CEO Provides Support To June 3 Fire Victim Solomon Akugru

    June 4, 2025
    Facebook X (Twitter) Instagram Pinterest
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer
    • Buy Adspace
    • Buy Adspace
    • Hide Ads for Premium Members
    © 2025 Insight News GH.

    Type above and press Enter to search. Press Esc to cancel.