DDE: Silence of Parliament, Christian Council, others worrying – Bokpin

Professor of Finance at the University of Ghana Business School (UGBS), Professor Godfred A. Bokpin has described as worrying the silence of some major stakeholders in the governance of this country relating to the government’s Domestic Debt Exchange Program (DDEP).

Pensioner Bondholders Forum, a group for the protection of pensioners with investment in government bonds has served notice to picket at the premises of the Finance Ministry until its members are exempted from the Domestic Debt Exchange Program (DDEP).

According to the group, attempts to have their investment exempted from the programme have proved futile, the reason for their decision to picket at the Finance Ministry until their demands are met.

Commenting on the Debt Exchange Program on Morning Starr with Francis Abban, Mr. Bokpin stated that he cannot fathom why Parliament as the representative of the people has not summoned the Minister of Finance for questioning.

“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.

“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?” Mr. Bokpin queried.  

He stated that NDC and other major stakeholders must demonstrate their commitment and what alternative they are putting on the table to salvage the nation from the current situation.

“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.”