The Ministry of Finance says government’s debt restructuring moves will not affect Tier 2 pension contributions.

According to the Ministry, any contrary reports to the effect should be disregarded. 

In a statement, the Ministry of Finance said such fears are without merit and do not augur well for the country’s financial sector.

“These publications and ‘social media advisories’ are without merit and are designed to undermine confidence in Ghana’s financial sector,” the Ministry stressed in the statement.

Meanwhile, the Ministry added that the Government’s engagements with the IMF, “both in Accra and in Washington, D.C., on a Programme to restore macroeconomic stability, are progressing steadily.”

“We, therefore, encourage all Ghanaians to disregard these publications, which are in no way reflective of the progress of work being done with the IMF.”

https://www.myjoyonline.com/94-of-%C2%A23-9bn-tier-2-pension-may-be-affected-by-debt-restructuring/

The Ministry further asserted that it had always protected investors’ interests in the financial sector.

Government as part of processes for securing support from the International Monetary Fund is currently conducting a debt sustainability analysis. 

This has led to fears that investments in government securities may be affected.

There have also been reports suggesting that about GH¢3.7 billion of the GH¢3.9 billion Tier 2 pension contributions placed in government securities may be affected by the Debt Restructuring Programme.

However, the Ministry says the reports are unwarranted and should be disregarded completely.