Ablakwa backs exemption of pensioners, individual bondholders from ‘draconian’ DDEP

North Tongu Legislator, Samuel Okudzeto Ablakwa, is wondering why government keeps blaming external factors for the country’s current economic challenges instead of accepting responsibility.

“We keep blaming external factors. Why are we the only country in Africa going through a Debt Restructuring Programme? Are we saying these external factors did not affect others?” Mr Ablakwa quizzed while speaking on the floor of Parliament, Thursday, 16 February 2023.

The North Tongu legislator, noted the Finance Minister should have resigned instead of coming to the house of legislature to explain government’s debt exchange programme.

“We have a Finance Minister who refuses to take responsibility.

“Instead of him to tender in a resignation, he has come here to offer dubious explanations,” MP Ablakwa said.

According to Mr Ablakwa, his records indicate a rise in government’s expenditure between last year and this year.

Mr Ablakwa stated: “How can this be the case, especially at a time government is demanding money from pensioners and individual bondholders?”

He also added his voice to the demand for a resolution by Parliament that pensioner bondholders should be exempted from government’s debt exchange programme.

“I support a demand for a resolution by this house that the pensioner bondholders, individual bondholders should be exempted from this draconian Ken Ofori-Atta, Bawumia, and Nana Addo inflated debt exchange programme,” the North Tongu legislator opined.

The MP of Yapei Kusawgu, John Jinapor, called on the House of Legislature to pass a resolution to force the Finance Minister to exempt pensioners from the Domestic Debt Exchange Programme (DDEP).

Mr Jinapor further called for a resolution to be passed by Parliament which will compel the Minister to stick by the original contract for coupons for individual bondholders.

Making his submissions following the presentation on the DDEP by the Finance Minister, Mr Jinapor said: “Let us pass a resolution compelling the Minister of Finance so that all the pensioners will be exempted from this exchange.

“Also bondholders’ coupon rates, principal and the terms of the original agreement should stand.”

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