So-called DDEP is not a panacea for Ghana's problems - Sammy Gyamfi

The National Communications Officer of the National Democratic Congress has poked holes in the government's claim that the debt exchange programme will bring some stability to Ghana's economic problems.

He vehemently stated that he does not agree with the narrative being pushed by the government.

“People think that this so-called debt exchange programme is the panacea to our economic woes. I disagree. It is not the panacea to our economic woes.

“If we do not address the issue that has brought the country to its knees, it doesn’t matter how many times we do debt exchange, we will return to this same ditch,” he was quoted by myjoyonline.com.

Sammy Gyamfi explained that the current government has had more resources at its disposal than any government has had but has "simply mismanaged them."

He said this is the “luckiest government in the history of the country in that it has unprecedented oil revenue, huge tax revenue, and unprecedented borrowed funds.”

Sammy Gyamfi believes that the programme is to “expropriate” the investments of individuals.

He lamented that the government’s resort to the Programme is attributable to its “reckless borrowing and expenditures they have engaged in, in the last six years.”

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