Michael Blackson, a renowned American comedian and actor of Ghanaian descent, has publicly expressed his disappointment and frustration with the Ghanaian government for its handling of Eurobond investments.
Blackson had invested in Eurobonds to support his philanthropic endeavor, the Michael Blackson Academy, a free school he built in Agona Nsaba. However, the government’s decision to prioritize debt repayments to other nations, particularly China, has jeopardized his investment and the school’s future.
Blackson took to social media to lament the situation, sharing a post from the Ministry of Finance that highlighted the country’s receipt of help during the COVID-19 period. He questioned why the government had to touch his investment, stating, “Ghana decided to use our money to pay their debt to China or whoever and leave us hanging” ¹ ² ³.
The comedian criticized the Finance Ministry for offering bondholders unfavorable options, including a significant haircut with a lower interest rate and a longer maturity period or a lower interest rate with an even longer maturity period ¹ ². Despite his frustration, Blackson remains committed to running his academy, which provides free education and uniforms to children from kindergarten to Basic 3.
The post read, “If Ghana received that much money for Covid, why did they touch our Eurobonds? Why did they use people’s life savings? We still need answers.
“Ghana has received US$1 billion allocation from the historic US$650 billion IMF SDR allocation to boost global recovery.”
