body-container-line-1
18.01.2023 Feature Article

Finance Minister must STOP illicit Cut-throat Debt Exchange

Finance Minister must STOP illicit Cut-throat Debt Exchange
18.01.2023 LISTEN

A standing ovation  goes out to Individual bondholders  especially Pensioners exercising their right to Reject  the Finance Minister, Ken Ofori Attah's   unilaterally  bull - dozed "intensive care unit haircuts". It is cut- throat  dictatorship  being shoved down bondholder throats to stifle livelihoods  and must be stopped in its unacceptable  murderous  tract.

Dear oman Ghana, Why don't we vote in the International Monetary Fund "IMF" as our life President to govern in perpetuity come 2024! That way, we will acknowledge our continual "colonised" status and not pretend we are a proud sovereign nation as opined lamely by  an untamed  Ken Ofori Attah now doing illicit and callous bondholder Debt Exchange  'haircuts'  enroute  IMF  bail- out to authenticate that We live in a persistent IMF caged  dependence.

How is it justifiable that Pension funds of active workers  can be exempted while including individual Pensioners holdings?

So our  President did not tell  us the truth  when he announced no "Haircuts" as a precursor to the Finance Minister announcing comprehensive "haircuts"? And the finance minister did not tell us  the truth when he announced Individual bondholders will be excluded?. Ostensibly sebe o taflatse,  one could be pardoned to think they  EITHER do not know what they are doing ?

OR
They have deceitful Antennas  This is  Anathema
So Review the national Anthem
And
Resist  Debt Exchange Terms
Because it is outrageous in Theme
To get out of debt
By Stealth As a  Scheme?

Being financially  Maimed
Is an infamous Aim
What a mighty Shame
Ghana beyond aid?
Pensioners in a servitude Sale
With Bonds Frozen As they  Age
Without wages, they wail
Senior  Citizens cannot Exhale
Cos Our government is Stale
After all their tall Tales.
So Resist oppression before it is Late"
While Awaiting IMF Bail.

Let us understand that a  government bond is prefaced on Trust.  It is  a  contractual     " loan " with  a sovereign undertaken  to honor the interest terms within a specified time frame and  deliver principal when due. It is underwritten by the credibility and honor  of governments as a safe investment vehicle.

This is an agreement which cannot be  legitimately varied without the negotiated  voluntary  consent of bondholders which  has to be by free will not coerced  by  " communist inferior tactics" !

Consequently, irresponsibly throwing caution  to unconscionable winds  to  unilaterally vary the terms of bondholder  agreements to their  detriment  and to coerce compliance by overt or covert threats of  loss of principal  when  government is in  breach of the original terms including forfeiture of interest for a year and postponing subsequent  due  dates  is an egregious example of  stealth of wealth. 

This also effectively  equates making the bondholder pay damages  to  the erring  government  that is in breach!

Furthermore, putting  guilt on  bondholders as though it were a patriot duty to offer sacrificial  relief  for  self - serving  governmental  borrowing escapades that have run amok,  is an untenable proposition.

It is the  obligation of the  insolvent government that has regressed into a raw militarized "Yentua" i.e we shall not pay culture,  that should be pleading on its knees for bondholders to come to the negotiating table not vice- versa.

And, By the by, Where is the national  honor when IMF leads an international "Yentua" debt cancellation initiative on " proud  sovereign"  Ghana's behalf?  What kind of credibility does it  give the country when  IMF  "controls" our financial  destiny to  keep us  marginalised and without dignity at the humanity conference where Africa is  a  perennial child with a plea for help.  Oh Ghana, my Ghana how can you be in such perpetual financial starvation that IMF is  your loud  alleluiah Chorus" of everlasting "salvation"

Email: busiafordemocracy@ yahoo.com 

body-container-line