Following the country’s worrying debt stock and interest payments, government has announced a domestic debt exchange programme.
The programme which was announced by the Finance Minister, Ken Ofori-Atta on Sunday, aims at realigning some domestic bonds.
This, when achieved, will give the government fiscal space ahead of the bailout package from the International Monetary Fund (IMF).
But speaking on Ahotor 92.3 Fm’s morning show Adekye Mu Nsem Ghana’s former Ambassador to the United Kingdom Amb.Emmanuel Victor Smith said the government made a mistake by touching the investment of some Ghanaians.
Mr. Ofori-Atta in a subsequent presser on Monday, said the government was inviting “holders of domestic debt to voluntarily exchange approximately GH¢137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, for a package of New Bonds to be issued by the Republic.”
The domestic debt exchange programme, which is a Government initiative seeks to classify domestic bonds into four categories to create fiscal space as part of preparations to qualify Ghana for an IMF facility.
“This is the beginning of the end of the NPP government for touching peoples investment, why should they do that? They are calling for something they can’t handle from Ghanaians by touching peoples money” He told Citizen Kofi Owusu.
Amb. Victor Smith said the 275 Member of Parliaments should be blamed for the current hardships Ghanaians are going through.
“They are suppose to fight for the people we voted for them there to protect us but what are they doing, some MPs are just playing in parliament, I was proud when the speaker of Parliament said we don’t play in Parliament”.
“Why are the MPs approving bogus Minsiters?, Ken Ofori-Atta is one, this Hawa Koomson woman who can’t even string two sentences together was approved, are we kidding?.
He blamed the World Bank and the IMF’s reluctancy in giving Ghana loan on the way the member of Parliaments behave in the house.
“The world is watching us, the IMF nad the World Bank reluctant to give us money is because of the behaviour of some of our MPs, they don’t trust the leaders of the country to even give us money” Victor Smith said.
He accused the government for changing the minds of the 90 majority MPs who wanted Ken Ofori-Atta sacked as the Finance Minister.
“What did the government told the 90 MPs before they rescinded their decision to sack Ken Ofori-Atta as the Finance Minister the President must explain to us, Akufo-Addo and his people are messing up the country”.
Critics of Mr. Ofori-Atta, who are growing by the day, say the Minister lacks the economic know-how to deal with the current economic crisis, which has seen the Akufo-Addo-led government return to the IMF.
An inflation figure reaching record high has led to skyrocketing prices of goods and services, and cedi-dollar depreciation, which has also seen the local currency being tagged the worst-performing in the world, are reasons some adduce to back such resignation calls.
Story by: Emmanuel Romeo Tetteh / Ahotoronline.com
