Akufo-Addo and Bawumia cannot continue to manage Ghana’s economy like a private entity – Minority

The Minority in Parliament has expressed displeasure about the failure of the government to engage stakeholders on its Domestic Debt Exchange Programme.

Addressing a press conference on Ghana’s Domestic Debt Exchange Programme on Monday, January 16, Minority Leader Haruna Iddrisu said his outfit demands that government immediately suspends the programme.

According to him, government’s failure to consult stakeholders on the programme shows how President Nana Addo Dankwa Akufo-Addo and Vice President Dr. Mahamudu Bawumia have been running the country’s economy as though it is their private property.

“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,” Haruna Iddrisu told the media at the press conference.

The Minority is of the view that the failure of the Government to fully engage the relevant stakeholders in the Debt Exchange Programme has led to this confused state and implementation challenges.

The Minority insists that the Debt Exchange Programme is a risk to financial institutions and insurance companies.

“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 Minority Leader added.

At the press conference, Haruna Iddrisu emphasised that Individual Bondholders must be excluded from the Debt Exchange Programme of government.