Inusah Fuseini, a former Member of Parliament for Tamale Central, has attributed the issues surrounding the Domestic Debt Exchange (DDE) Programme to a lack of economic management.
This comment comes after the government announced an extension of the Domestic Debt Exchange (DDE) Programme, a programme that has suffered rejection from Ghanaians.
Senyo Hosi, convener of the Individual Bondholders Forum (IBF), said the government has shown total disregard for the contractual rights of individual bondholders and has made no effort to structure reasonable consultations with individual bondholders.
The subscription to the Domestic Debt Exchange (DDE) Programme was initially extended from Friday, December 30, 2022 to Monday, January 16.
But a statement from the Ministry of Finance’s Public Relations unit, dated January 16, said that the new deadline is Tuesday, January 31, 2023.
“Building consensus is key to a successful economic recovery for Ghana.” “Pending further stakeholder engagement with institutional and individual investors, who were recently invited to join the debt exchange programme, government is extending the expiration of the DDE to Jan 31, 2023,” excerpts of the statement announcing the extension read.
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Commenting on the programme while speaking to the press in Accra on January 18, 2023, after a crunch meeting with the Ghana Individual Bondholders Forum (IBF), Ken Ofori Atta asked the general public to join the programme as the government is targeting 80% participation in the debt exchange program.
Speaking on Atinka FM’s AM Drive with host, Kaakyire Ofori Ayim, Inusah Fuseini said the New Patriotic Party’s failure to manage the economy better was the cause of the mishaps in the programme.
“We heard that some patriotic Ghanaians signed petitions to prevent the government from further borrowing, which fell on deaf ears, but now look at where we are. “This is as a result of a serious lack of management, which in the long run will affect our financial system, economic activities in the country, among others,” Inusah Fuseini added.
Ghana | Atinkaonline.com | Vivian Adu
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