A leading member of the ruling New Patriotic Party (NPP) Dr Amoako Baah has chastised the government over the debt exchange plans which were announced by the Finance Minister last week.
According to Dr Amoako Baah, the debt exchange program amounts to forcing the throats of bondholders and investors.
“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 the 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.
He added that “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”.
He says what the Government has announced to do with regard to its debt restructuring measures is a sad situation that has never happened in the history of the country.
Dr. Amoako Baah further urged the people not to trust anything President Akufo-Addo says, especially after his assurance of no “haircut” turned out not to be true.
“What has happened is more than a haircut. Don’t mind the president when he says no haircut, his is a bald head that is why.
“What he has done is even ear cut, it’s not a laughing matter at all, and this is very serious”, he stated