Former Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors has commended government for the extension of the deadline for enrollment onto the debt exchange programme.
This, according to him, will enhance better engagement on the matter.
In an interview on Joy FM’s Midday News on Monday, Mr Senyo Hosi said the extension is a “good move.”
“It [the DDE extension] is news, but I don’t know whether it is good yet, but it is a good move at least there is room for engagement,” he said.
He said the proposal by his outfit must be factored into future deliberations on the matter.
“The issues are pretty clear. We have not yet come to the table and just say no, we have actually proposed alternatives that are viable for government, government must look within and …because we as individuals and general citizens have been at the receiving end – the raw end of this deal of governance every single time… We’re open to meet and we look forward to that,” he said.
Due to the massive rejection of the the policy intended to sustain the country’s debts by individual bondholders, government on Monday extended the deadline.
According to a tweet from the Office of Finance Minister, the extension is to deepen stakeholder engagement on the proposed policy.
It added that there is a need for government to rally consensus towards a successful implementation of the programme.
“Building consensus is key to a successful economic recovery for Ghana.
“Pending further stakeholder engagement with institutional and individual investors, recently invited to join the debt exchange programme, government is extending the expiration of the DDE to Jan 31, 2023”, the tweet said.
Meanwhile, the Minority in Parliament has called for the suspension of the entire programme.
Addressing a press conference on Monday, the Minority Leader, Haruna Iddrisu said the programme as currently structured will worsen the plight of Ghanaians, hence the need for the President to put it on hold and consult some more.
In his submissions, he stressed that the present programme if implemented, will have dire consequences on individual bondholders who are already struggling amidst the economic crisis.
While calling for the suspension, he also noted that if the programme is implemented, it will stifle the growth of the financial sector which can lead to its entire collapse.
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