A leading member of the New Patriotic Party (NPP), Gabby Asare Otchere-Darko, has received a salvoe from Nsawam-Adoagyiri lawmaker, Frank Annoh-Dompreh, over his comments on government’s Domestic Debt Exchange.
The Member of Parliament has cautioned Mr. Otchere-Darko not to “take the ‘power’ of the people for granted.”
His comment follows a statement made by the President’s cousin, Otchere-Darko, to convenors of individual bondholder groups to be careful on leading a course against government’s policy on bonds which may have dire consequences on the economy.
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Even though he commended those leading the front for getting a single voice for such individuals, he warned of the “dangers of a no-compromise stance.”
“Those mobilising to lead the voices of individual bondholders deserve our utmost commendation for speaking up for a big number of people who otherwise would have had no organised voice like institutional investors. But, let’s be careful about the dangers of a no-compromise stance,” Gabby tweeted.
But this, the legislator said would have been avoided if the government had engaged individual bondholders.
A good engagement could have avoided this..
Don't take the 'power'of the people for granted.
No hard feelings!Peace. https://t.co/88oRoMtenx
— Hon. Frank Annoh-Dompreh (@FAnnohDompreh) January 16, 2023
The Domestic Debt Exchange (DDE) programme was adopted by government as a means to reduce its debt stock to meet the requirements for a bailout from the International Monetary Fund.
Government earlier communicated that individual bonds would not suffer a haircut but turned around to include them which many are objecting to.
The Consumer Protection Agency for instance is asking the Finance Minister why he said on national television to exclude individual bondholders but is now getting the “skin of their skull removed.”
Victims of the policy are still massing up themselves to form a bigger unit to fight the government on the unpopular decision.
By Felix Anim-Appau|Onuaonline.com
