A Financial Consultant, Dr. Daniel Seddoh, has advised the government to rethink the Domestic Debt Exchange Programme since it is destructive.

Government is racing against time to have all individual bondholders signed onto the terms of the debt exchange as the deadline is the end of today, January 16, 2022.

There are fears government will be unable to get the 80% buy-in of the bondholders owing to what is believed to be the lack of extensive consultations and engagements.

But reacting to the development, Dr. Seddoh told Joy Business, government has no other option than to take a relook at the entire debt exchange programme if it really wants to have a debt sustainability.

“If the people are not happy you cannot continue. So, you need to rethink and say what is it that I can do for people to buy-in”.

“If you don’t get the people on your side, you’re better off not even starting. So government needs to think….that’s why we’ve elected people to think for us”, he added.

Meanwhile, the government is expected to make an official statement on the progress made of the domestic debt exchange program by the close of work today.