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A senior lecturer at the University of Ghana, Professor Godfred Alufar Bokpin says government should consider other cost-cutting measures to revive the economy.
This proposal comes after pension funds were exempted from the debt exchange programme following Organised Labour’s fierce resistance.
The exemption of all pension funds, however, is subject to government and Organised Labour working together to explore mutually beneficial options within the debt sustainability terms.
Speaking in an interview on Joy FM’s Super Morning Show on Friday, Prof Bokpin stated that government should possibly look at “wage negotiation.”
This, he explained is because a certain level of debt restructuring is unavoidable, adding that it will require the buy-in of relevant stakeholders.
“If Organised Labour makes progress, here as we saw yesterday, it means that we must look at other cost-cutting measures,” he said.
He added that other revenue-enhancing measures can be considered.
Although the International Monetary Fund (IMF) has had a Staff Level Agreement with Ghana which concluded on pension funds as a measure to restore debt restructure, Prof Bokpin says that to the IMF a roadmap is needed on how to restore and sustain the debt sustainably.
He added that the variable mix on how the debt can be sustained lies in the country’s court.
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