A senior lecturer at the University of Ghana, Professor Ransford Gyampo has fired the Finance Minister over the government’s debt exchange programme.
Professor Gyampo said Mr Ken Ofori-Atta cannot take the pension funds of others while his is kept elsewhere.
According to him, the move will be opposed vehemently.
In a Facebook post on Tuesday, December 13, the lecturer said Mr Ofori-Atta’s soft tone can only “deceive” parliamentarians.
“Dear KOA, Yes, a destabilised macroeconomy is an enemy of pension. But we won’t allow you to forcibly take our pension while yours is secured elsewhere.
“Your soft tone can only deceive parliament’s censure committee, not labour,” he posted.
The programme which was announced by the Finance Minister, Ken Ofori-Atta on Sunday, December 4, is aimed at realigning some domestic bonds.
This, when achieved, will give the government fiscal space ahead of the bailout package from the International Monetary Fund (IMF).
Mr Ofori-Atta in a subsequent presser on Monday said the government was inviting “holders of domestic debt to voluntarily exchange approximately ¢137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, for a package of New Bonds to be issued by the Republic.”
The domestic debt exchange programme, which is a Government initiative seeks to classify domestic bonds into four categories to create fiscal space as part of preparations to qualify Ghana for an IMF facility.
The Minister also promised that there will be no haircuts on principals but the venerable chief disagrees.
But since the announcement, a number of groups had publicly voiced their rejection of the programme.
Groups such as the Trades Union Congress (TUC), the Ghana Medical Association (GMA) and others have openly rejected the idea.
According to them, the move will not auger well for their members.
They have thus vowed not to allow government to succeed in this quest.
Latest Stories
-
Border restrictions impact businesses and residents amid Togo elections
56 mins -
We’ve helped close leakage gaps – SML maintains
56 mins -
Ketu South MCE commissions an ultra-modern toilet facility in Aflao
1 hour -
Sunyani East parliamentary elections: Ransford Antwi to contest as an independent candidate
1 hour -
Publish full KPMG report on SML/GRA contract – NDC to Akufo-Addo
1 hour -
Inspire Action trains 24 people in vocational training
1 hour -
The government pays little attention to the health sector – Sammy Gyamfi
1 hour -
Peter Amewu mourns after mother’s death
2 hours -
Contract between the government and SML unlawful- Sammy Gyamfi
2 hours -
Dennis Agyei Boateng: Harnessing the power of development communication for Ghana’s development
2 hours -
Achieving equity in the fight against malaria requires greater domestic resource mobilisation
2 hours -
MP Murder Case: Defence Counsel to file ex-parte application to subpoena persons to assist trial
2 hours -
Eat healthy foods to attain anti-aging goals – Nutritionist
2 hours -
4 little ways to tell if you’re crazy-in-love or just crazy-obsessed
2 hours -
Court jails man seven years for cocoa smuggling
2 hours