The Minority Caucus in Parliament led by Haruna Iddrisu, has called for the suspension of the domestic debt exchange programme.
At press conference on Monday, January 16, 2023, the legislator remarked that failure of the government to fully engage relevant stakeholders in the debt exchange programme that has led to the present confusion and implementation of the programme.
He demands deeper consultation and greater transparency about the programme.
According to the Minority Leader, the government’s debt exchange programme is a risk to financial institutions in the country asserting further that
“Our banks and other financial institutions are still reeling after the infamous financial sector bailout. The Debt Exchange Programme will further exacerbate the already perilous financial sector. The last thing Ghanaians would want is a total collapse of the financial sector by a government which went haywire on a borrowing spree.
“The future sustainability of our insurance companies cannot be guaranteed under this poorly crafted Debt Exchange Programme. Indeed, the Debt Exchange Programme as proposed and implemented now cannot be in the interest of our financial institutions and insurance companies. It certainly is not in the best interest of Ghanaians.”
“The Nana Addo/Bawumia Government cannot continue to manage Ghana’s economy like a private entity. Ghanaians deserve to know how much is involved and how long the debt exchange will take. It is not just about people’s investment, but it is much more about people’s lives and livelihood. The Nana Addo/Bawumia Government should suspend the Debt Exchange Programme now,” he added.
Source: Oyerepafmonline.com/ Kwaku Ansah
