Business News of Monday, 16 January 2023
Source: www.ghanaweb.live
2023-01-16Debt exchange: Government has scuttled people’s hard-earned investments - Joyce Mogtari
Cedi
Special Aide to former President John Dramani Mahama, Joyce Bawah Mogtari, has accused government of destroying the hard-earned investments of Ghanaians.
According to her, government is taking the monies of investors and bondholders through the domestic debt exchange programme it intends to roll out by the end of January this
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Joyce Bawah Mogtari further said several Ghanaians lost monies and their jobs during the banking sector cleanup.
In a tweet sighted by GhanaWeb business, she said, “Fellow Ghanaians lost monies and jobs in the Banking Sector clean up exercise, and now they are taking people’s livelihoods from them, disguised as a Domestic Debt Exchange Scheme.”
“So annoying. So now it’s the fault of Ghanaians for expecting that leadership does what it was elected to do? You mess up the economy and scuttle people’s hard-earned investments and turn round to suggest the victims of your recklessness are not being patriotic enough?” Joyce Bawah Mogtari added.
Government of Ghana is seeking to revive the economy through a $3 billion International Monetary Fund loan.
As part of its efforts to meet the conditions required for the loan, government has announced a domestic debt exchange programme aimed at varying the terms of existing government bonds.
Meanwhile, goverment has extended the deadline for the expiration of the debt exchange programme to January 31, 2023.
ESA/FNOQ
