NPP 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.
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 change of government. But if you change the government with this same problem, where are you going?", he stated.
He added; "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 also advised the citizenry to note that this is "no longer NPP/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
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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Rubbish! Why should we support Ghanaian politicians in their sumptuous way of life after paying our taxes? Looking at the amount of money that politicians pay for themselves in the name of a constitutional right (from ex-gratia, through per diem to committee allowances and fuel benefits). Look at the type of cars that politicians drive around the country. All politicians should be at the same level of salary as teachers and police officers. None of the bondholders should listen to their ***barred word***. I've decided to stop voting because they're all the same!
I dont' think Sylvester Tetteh is a bondholder; why is it that anytime politicians mess up the economy, it is the ordinary citizen that is made suffer. It is like the frog being asked to bear the brunt for the lizard consuming pepper. Politicians should know that the ordinary Ghanaian is not Jesus Christ, and so cannot continue to sacrifice our comfort for the mess politicians cause. If the government cannot find innovate ways of fixing the economy other than the DDE, then they exit their offices and allow those who can fix the problems to take charge, or else stay and allow things to deteriorate for all of us to suffer instead of only a few of us.