It is ridiculous for the New Patriotic party (NPP) government to force down the throats of many bond holders a debt exchange program that extends beyond their tenure in office. That is the opinion of renowned political scientist Dr. Richard Amoako Baah.
The failed National Party Chairman hopeful of the NPP suggests it is very ironic for the President Nana Addo Dankwa Akufo-Addo’s administration to be talking about investments of people’s bonds into 2037 a time frame where principals of their investment could have devalued.
He was sharing his thoughts on recently announced debt exchange programs by the finance minister which the opposition NDC and other economists have described as “economic haircuts”.
“This whole thing is not a joke, it’s a serious matter. Many people are going to lose their money. Some retirees may not get money to live on”, he lamented
“The government has projected 2037 to make payment on all interest that has never happened before and the amount of debt we have you can’t pay. This is ‘Patapaa’ the government is using; there is no room to maneuver so that is it. Hey but you will not be in office till 2037, no room for people to talk. If this is a right country where parliament is doing its job, they will say there is no way this will not work”, he said
“They won’t even allow them to pass the budget , they will tell them to go and re-write the budget , but see they have approved it”, the former KNUST lecturer stressed.
Dr. Baah says he warned Ghanaians not to trust the words of the president when he said there was not going to be any haircut.
“What has happened is more than a haircut. Don’t mind the president when he says no haircut, his is bald head that is why” he laughed off.
“What he has done is even ear cut, it’s not a laughing matter at all, and this is very serious”, he concluded.
Mynewsgh.com
