Parliament, TUC, Christian Council don’t be silent, criticise the DDE – Prof. Bokpin

Professor of Finance at the University of Ghana Business School (UGBS), Professor Godfred Alufa Bokpin wants stakeholders in the country to join the calls against government’s Domestic Debt Exchange Programme.

He finds it troubling that stakeholders who ought to be speaking out for government to do the needful about the programme are silent.

The Trade Union Congress (TUC), the Christian Council of Ghana, Parliament, and others, according to Prof. Bokpin, are required to criticise the government’s terms in the policy so that the already suffering individual bondholders do not suffer more in the end.

"We need all important stakeholders; you need the TUC on the table; the TUC should not just wake up because pensions were at risk. What is a pension if the whole country is not governed well?

"Because if you don’t do this Debt Restructuring very well, adequately, and comprehensively, it will show up in the next two years," he began.

The financial expert again finds it worrying why the opposition NDC is not putting more pressure on the government to drop the DDE.

Prof. Bokpin complained that if the government is allowed to escape with the DDEP Ghanaians will be worse off.

"If you look at the terms that the minister has proposed, even for the Individual Bondholders you are looking at the principal repayment in 2025 at a time he will not be there. "Even the opposition party, what is their stake and their contribution in this Debt Restructuring?"

"The Christian Council, all the major stakeholders, you know this is not a time where you can leave governance to a few people; no, this is a time where we all come on board. Bring the best ideas and best alternatives on the table for our common good.

"If Parliament could tell us that they themselves have no deeper understanding of this Debt Exchange what prevents them from asking the Finance Minister to come and brief Parliament comprehensively? The situation, the steps, and all of that," he asserted.

Meanwhile, the pensioners in the country on Monday, February 6 picketed at the Finance Ministry and threatened more until their grievances are addressed.

They want government to exclude their bond from the programme immediately.