In a Finance Ministry post on social media, it said the program has been extended to allow for more consultations.
“Consensus building is key to Ghana’s successful economic recovery. Pending further stakeholder engagement with institutional and individual investors, recently invited to join the Debt Exchange Programme, the government is extending the DDE’s expiry to January 31, 2023”, Ministry said.
In an interview in Accra, the Parliamentary Majority Leader, Osei Kai Mensah-Bonsu said the legislature was not properly consulted on the programme.
Speaking to Accra-based City FM, the Sumem MP said the government should do proper consultation on the programme.
“Meetings were held before the budget was finalized and then presented by the finance minister. So we had broad discussions, but we didn’t know the details at the time, but there were some consultations about exactly where we were as a nation. But I’m not sure this matter came up for discussion, maybe the broad strokes were mentioned but not the details. Kaii-Mensah-Monkey told host Bernard Awley.
Many have previously warned that if the government implements the debt swap program as it is now, it will wipe out the middle class in Ghana.
Speaking to a group of individual bondholders led by coordinator, Senyo Hosi and private legal practitioner Martin Kepebu after a petition to exclude individual bondholders from the debt swap was presented to him on Friday, the Summe MP called on the finance minister to properly engage with the principal. Stakeholders.
“What we are [are] Most of these bond holders belong to the middle class and that is where the major worry lies. If we’re eliminating the middle class, that can be dangerous, so we need to have a little more conversation about this.
The government’s deadline for bondholders to sign up for the domestic debt swap program ends today, Monday, January 16, 2023.