The deadline for the Debt Exchange program will be extended again – Assibey-Yeboah
Former Member of Parliament for New Juaben South, Dr Mark Assibey-Yeboah has predicted that the deadline for the domestic debt exchange program will be extended.
In his view, the steps that the government should take to ensure the program is successful are not being implemented.
On Monday 16 January, the government again extended the Domestic Debt Exchange Program (DDE).
This makes it the third extension after agitation among individual bondholders to enter the Program.
The decision allows the government to be more involved with the bondholders.
The Government initially extended subscription to the Program from Friday, December 30, 2022 to Monday, January 16, choosing the next day as the Announcement Date.
According to the schedule, Tuesday, January 24 is scheduled for the completion of the invitation.
However, on Monday, January 16, the government announced again that the deadline would be Tuesday, January 31.
Speaking on the development of Business Focus with Paa Kwasi Asare on TV3, Monday 16 January, Dr Assibey-Yeboah who chairs the Finance Committee in the 7th Parliament said “First of all, we were told that individual bondholders will not be part of the debt exchange. People have planned life around the bonds they hold and then all of a sudden, on December 31st, you sneak in this and say that now, individual bondholders are part of it.
“Because we all celebrate Christmas, we ignore it.”
He added, “This is the money I’m looking for and someone voted. You told me that individual bondholders will not be part of it, why are you including individual bondholders? Have you involved individual bondholders? You haven’t. That’s why I said, the deadline will be added to.Necessary consultations, difficult decisions, will not be made.
Individual bondholders have expressed dissatisfaction with the Program, accusing the government of failing to engage them.
He petitioned the Minister of Finance, Ken Ofori-Atta, to exclude him from the Programme.
At the umbrella body Ghana Individual Bondholders Forum (IBF), the bondholders accused the Minister of Finance and President Nana Addo Dankwa Akufo-Addo of changing and not keeping their promises.
“Sir, don’t let it be said that during your tenure, your policies are poor the citizen the main duty to the country is service and love through hard work and taxes.
“Your DDE is as proposed for Individual Bondholders take away our freedom to save ourselves, make a mockery of our hard work, and rob us. legally owned property. None of these reflect the principles of good governance.
He has offered to provide his expertise to help the government deal with the economic problems found in the country.
Meanwhile, the Minority in Parliament called on President Akufo-Addo to immediately suspend the Program and begin extensive engagement.
The caucus said the government should hold an economic dialogue as part of its engagement before considering reintroduction.
By Laud Nartey|3news.com|Ghana
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