NPP requests that Ofori-Atta evaluate the debt swap scheme.

 



The ruling New Patriotic Party (NPP) has asked Finance Minister Ken Ofori-Atta to exclude minor bondholders from the debt swap scheme.

According to the party, bondholders such as retirees and others should be exempt from the scheme.

In a meeting with the Finance Minister and other party officials, NPP General Secretary Justin Koduah stated that the party's headquarters had been bombarded with requests for the government to explore the debt swap scheme.

As a result, the party urges the government to investigate alternate solutions to the problem.


For the third time, the government has extended the deadline for bondholders to voluntarily exchange their bonds for new ones.

It is presently unknown how many institutions or individuals have signed up for the initiative, which has been rejected by a number of organisations.

In order to solve the country's ongoing economic woes, the government announced a scheme inviting bondholders to voluntarily swap roughly GH137 billion in domestic notes and bonds of the Republic, including ESLA and Daakye, for a bundle of new bonds.

Since its launch, the domestic debt swap scheme has received fierce criticism from labor unions, which were successful in exempting pension funds. Other organisations, such as the Individual Bondholders Association, have also spoken out against the initiative.

ABDUL-WAHAB

VOV stands for Voice Of Volta, we are the mouthpiece for the second-largest local dialect spoken in Ghana. But our programing is 70% English and we are heavy on sports and entertainment, we provide good music, credible and reliable news.

Post a Comment

Previous Post Next Post