DDEP: Ghanaians Will Suffer More If …………. – NPP MP

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

Ghana’s government, in a bid to mitigate an economic crisis, has negotiated a staff-level agreement for a $3 billion loan package from the International Monetary Fund.

The IMF has said that its board will approve the deal only if Ghana undergoes comprehensive debt restructuring.

This debt exchange programme which, when implemented will affect bondholders and pensioners in that, in the case of the bondholders, there will be zero benefits for them and the pensioners are also going to have to postpone collection of their pensions has generated lots of controversies.

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.

“I think we must all endeavor to support the system. When Ghana is well again, your small investment will have value than your huge investment in a collapsed economy. I don’t think any Ghanaian would like to travel that journey.” he said