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Debt Exchange should not be about politics, we must all support it - Bortianor MP

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Sat, 21 Jan 2023 Source:

NPP Member of Parliament (MP) for Bortianor-Ngleshie-Amanfrom, Sylvester Tetteh has appealed to Ghanaians, particularly holders of bonds, to agree and support the government's amended Domestic Debt Exchange Programme (DDEP).

In a bid to mitigate an economic crisis, Ghana's government has negotiated a staff-level agreement for a $3 billion loan package from the International Monetary Fund (IMF). The IMF has said that its board will approve the deal only if Ghana undergoes comprehensive debt restructuring.

Pensioner Bondholders Forum has petitioned the government to exempt their members holding sovereign bonds from the programme and Individual Bondholders’ Forum (IBF), a voluntary group of individual bondholders, is requesting a review as well.

But to Hon. Sylvester Tetteh, opposing the programme will not augur well for the country and will have dire consequences in the future.

Speaking on Peace FM's "Kokrokoo" discussion programme, the MP told host Nana Yaw Kesseh that Ghanaians must rally behind the government ensuring the programme is effectively rolled out, stressing it is better for them to bear the burden today than face a worse situation in the offing.

"... we should be mindful of people who want to run the system down for the sake of their political interest or political expediency and deceiving people making it seem we can't solve the problem because when there is a problem, it requires cool heads that we will solve those problems. But if we don't do that, the only thing those people are seeking is there will be a change of government. But if you change the government with this same problem, where are you going?" he stated.

"I think we must all endeavour to support the system. When Ghana is well again, your small investment will have more value than your huge investment in a collapsed economy. I don't think any Ghanaian would like to travel that journey," he added.

He also advised the citizenry to note that this is "no longer NPP or NDC matters but it is all of us, as Ghanaians, and our common destiny and our future put together, otherwise we will continue to do extreme partisanship but it is the country that suffers".

Watch his submission below:

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