Economic Issues

Debt exchange programme is eroding confidence of investors, says Samoa Addo

Debt exchange programme is eroding confidence of investors, says Samoa Addo

asaaseradio.com

Jan 15, 2023 7:10 AM

Samoa Addo was speaking in reference to the call by individual bond holders to be exempted from the government’s domestic debt exchange programme.

Nii Kpakpo Samoa Addo
Nii Kpakpo Samoa Addo

Private legal practitioner Nii Kpakpo Samoa Addo has warned that the government’s ongoing domestic debt exchange programme could erode confidence in the Ghanaian market.

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Addo was speaking in reference to the call by individual bond holders to be exempted from the government’s domestic debt exchange programme.

Appearing on Asaase 99.5 Accra’s news analysis show, The Forum, on Saturday (14 January), Addo said the government must tread cautiously.

“You cannot unilaterally impose new policies on people, and now no one will invest their money in buying government treasury bills,” he said.

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“What this policy has eventually caused is that now, nobody will have confidence in investing in the Ghanaian market,” he said. “First, we’re breaking a contract and imposing on the people.”

Speaking on the same programme, the deputy chief executive officer of the National Youth Authority (NYA), Akosua Manu (Kozie) said the government is aware of the discomfort the programme has caused investors.

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“I want to acknowledge the stories out there; the stories are sad. It’s heartbreaking but without a doubt, we are going through something, and the solutions are limited; the solution is painful and hard at best,” she said.

Below is a video clip of the programme:

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