The economy will collapse if we exempt you – Ofori-Atta tells pensioner bondholders

Finance Minister, Ken Ofori-Atta, has warned that if bondholders are exempted from the ongoing Domestic Debt Exchange Program (DDEP), Ghana’s economy will be in shambles.

According to him, even though the decision and its consequence were dire, it is necessary for various individuals to sign willingly to the program to enable government function.

Addressing the concerns of the Pensioner Bondholders Forum after a picket at the Finance Ministry, Mr Ofori-Atta urged the affected holders to hold their peace as it goes through tough periods.

He added that we are in a situation of “Boa Me Na Me Mboa Wo”, to wit “help me, let me help you” hence bondholders should cooperate with government to stabilize the economy

Prior to this, Mr Ofori-Atta reiterated that government has attenuated the period and term of maturity to 5 years instead of the uncertainty of the long term.

In response, the Pensioner Bond Holders insisted on government to totally exempt them from the ongoing Domestic Debt Exchange Program (DDEP)

Dr Adu Antwi Anane, leader of the Pensioner bondholders indicated their acceptance or otherwise, disapproval will be dependent on their members for further actions.