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Leave Our Pensioners Alone – Speaker Bagbin Cautions Finance Minister

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The Speaker of Parliament, Alban Sumana Kingsford Bagbin has asked the Finance Minister, Ken Ofori-Atta, not to touch monies belonging to pensioners.

Alban Bagbin said the current economic crisis can be solved without the funds of the pensioner.

Wrapping up on the business of the House on Thursday, February 16, the former Nadowli Kaleo MP said Parliament will resist any attempt to include funds of pensioners in the Domestic Debt Exchange Programme (DDEP).

“…what I can tell you is that leave our pensioners alone. You can solve the problem without touching their small money.”

 

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Already, the Finance Minister has confirmed that all pensioners who failed to tender their old bonds for new ones under the exercise have been exempted from the programme.

Addressing Parliament on the state of the Domestic Debt Exchange Programme, Mr Ofori-Atta said the pensioners have nothing to worry about.

Mr Ofori-Atta added that he has officially written to the pensioner bondholders who did not sign onto the Programme about their exemption from the exercise.

“Mr Speaker, Government remains committed to the well-being and dignity of our Senior Citizens and Pensioners.

“Indeed, it has personally caused me great distress as a number of them have picketed at the premises of the Ministry of Finance since Monday, 6th February 2023.

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“As I have already indicated in my Press Release dated 14th February 2023, government will honour their coupon payments and maturing principals, like all Government bonds, in line with Government’s Fiscal commitments.”

Ghana is currently requesting a $3 billion bailout from the IMF to bolster the struggling national economy.

Before the Bretton Woods institution’s board would evaluate Ghana’s request, one of the requirements is the domestic debt restructuring scheme.

A staff-level agreement between Ghana and the IMF was achieved in December, opening the door for the $3 billion rescue.

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