Private Legal Practitioner, Martin Kpebu is alleging that treasury bills are likely to be included in government’s debt exchange programme.

He said government's actions are pointing to that.

Speaking in an interview on Joy FM’s Top Story on Wednesday, he said, “the government is giving an indication that very soon they will jump onto the treasury bills.”

For this reason, he called on Ghanaians to join in the fight against the domestic debt exchange programme.

Mr. Kpebu read from a document on domestic debt exchange under the heading eligible bonds, “Treasury bills issued by the Republic and certain non-marketable security issued by the Republic are not subject to this invitation to exchange.

“Such treasury bills and nonmarketable securities may however be the subject of other exchanges and purchases by the government of Ghana from time to time.”

This message contradicts the government’s earlier statement that treasury bills will not be included in the debt exchange programme.

According to him, holders of treasury bills should not consider themselves safe from the exchange programme.

“So please Ghanaians, to be forewarned, is to be forearmed,” he added.

Meanwhile, some affected bondholders are contemplating committing suicide over the programme.

Speaking in an interview on JoyFM’s, Super Morning Show, on Wednesday, a 65-year-old pensioner, Larry Jiagge said he will contemplate ending his life if the government insists on including individual bonds in the Domestic Debt Exchange programme.

The old man said he has invested all his severance package into government bonds and will struggle to survive if his coupons are withheld.

According to him, his investment is his only source of income to get medication and feed himself.

He asked, “why can’t they (government) be very specific and tell us that if we don’t participate we will lose our money, then some of us will commit suicide rather than go through the pain.”

“The information out there is very minimal. You will talk to your bankers and they will tell you that is all the information we have, this is what we’ve been told. We are also waiting for additional information,” he said.

In a related development, Mr Kpebu is leading about 200 individual investors to engage the government over the inclusion of individual bondholders in the debt exchange programme.

Mr. Kpebu noted that these investors do not want any haircut on their matured investments.

In an interview on Joy FM’s SMS on Monday, January 9, 2023, he said a class action lawsuit against government will follow if negotiations fail.

A notice inviting affected individuals to join the class action suit described the government’s decision as “unconscionable”.

It said, “government cannot be allowed to use its might to impoverish Ghanaians.”