A member of the Individual Bond Holders Forum and affected individual bond holder in governments’ debt exchange program, Dr. Bernard Tutu-Boahene, has argued that government has sold the prosperity of the country following the commencement of the debt exchange program.
Individual bondholders are demanding for an exclusion from government’s domestic debt exchange programme.
This follows a petition to the Finance Minister, Ken Ofori Atta for members of the Individual Bond Holders Forum to be excluded from the government’s domestic debt exchange programme.
Ghana’s Individual Bondholders fear that the modality which is an important step in securing the International Monetary Fund (IMF) bailout may bring untold economic hardship to the country and would potentially make their bonds worthless.
However, Mr. Tutu-Boahene believes government in attempt to keep the country afloat is rather, “sacrificing the long-term economic growth of this country for 3billion dollars, that argument I don’t really get.”
He affirmed that the grounds on which government took to temper with individual bonds would generate distress in revenue mobilization hence the need to reinforce its decisions.
By: Miriam Akuetteh
