Director of Communications for the opposition National Democratic Congress (NDC) Sammy Gyamfi has chastised the Akufo-Addo and Bawumia led administration for what he describes as been insensitive towards the cry of Ghanaians with regards to newly introduced Debt Exchange Programme.
As part of requirements for an international Monetary Fund (IMF) bailout, the Government put together Debt Exchange Programme, through which domestic bondholders could lose up to 60% of their investments. This has been met with resistance from these bondholders, especially individual bondholders.
Sammy Gyamfi on Good Morning Ghana, described the Programme as deceptive and further added that, it will force more burden on Ghanaians.
“All this goes down to the dishonest approach they are using for this exchange programme. Today they tell you this, tomorrow another thing. The President word must mean something but all are lies, he tells the people of this country that, look there will be no haircuts. Government will pay you your money in bonds, only for things to change later. To the level that, they’re seizing interest rates of individuals. They went to Parliament and told our representatives in Parliament that individual bond holders will not be touched. Their debts will not be exchanged, we will pay their monies and then turn around few weeks afterwards that individual bond holders will be included. What kind of dishonesty is that?” he said.
For Sammy Gyamfi, the Programme is just to help government with more money to waste on the 2024 general elections.
“This government just want to go and misuse money because election is approaching. Another misuse of government whiles these monies could be used to pay their individual bond holders. The consequence of this debt programme if we allow it to stand will be that high, which we cannot stand it. People have no idea”
