Former Chief Justice Sophia Akuffo has expressed her worries that Finance Minister Ken Ofori-Atta pays attention to others’ concerns and responds to their letters about the domestic debt exchange program but does not reply to pensioners who have written to him requesting that they be excluded from the program.
Ms Sophia Akuffo demanded that the Finance Minister exempt retirees from the program.
“A simple letter that was written by the association to the Minister of Finance that exempt us from your programme. That is the gist, I always like to distil things to their lowest common denominator, exempt us, we are pensioners. Up till now, I have seen a copy of the letter, it has been dated 7th January.
“Up till now, there has not been a note of acknowledgement and just a few days similar letters that were written to the Minister have been responded to whereby he has categorically exempted other groups. Why? When I cannot fathom the reasons for something being done in a particular way especially when it has been done for others but it is not being done for others I start getting suspicious, I have grown to the age where I have seen it all,” Speaking to journalists in Accra after joining pensioners again to picket at the Ministry of Finance to protest their inclusion in the programme, on Tuesday, February 14.
The government has however revealed that it has reached 80 per cent participation in the programme.
“The Government’s Domestic Debt Exchange Programme (DDEP) closed on Friday 10th February 2023 with over 80% participation of eligible bonds,” a statement issued by the Ministry of Finance on Tuesday, February 14 said.
“The Government wants to thank the people of Ghana for their forbearance and support throughout these very difficult times.”
It said by the participation of the voluntary bondholders after the closure of the Programme on Friday, the country has inched closer towards securing the $ 3 billion extended credit facility (ECF) from the International Monetary Fund (IMF).
“The DDEP is being done to help protect the economy and enhance our capacity to service our public debts effectively.
“The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis.
“The Government is, therefore, grateful for the overwhelming participation of all bondholders.
“Your support and contribution has gotten your country much closer to securing the IMF programme.”
It asked individual bondholders, particularly pensioners, who did not participate in the Programme, to rest assured that their coupon payments and maturing principals will be honoured in line with laid-down rules.
