The Technical University Teachers’ Association of Ghana (TUTAG), has rejected the Ministry of Finance’s Domestic Debt Exchange programme, claiming the move defies investment logic.
It comes after a similar release from the Ghana Medical Association which believes the policy will have a negative impact on healthcare delivery.
TUTAG in a statement issued on December 7 said the retirement contributions of members invested in government bonds and pension benefits stand to be negatively affected if the government implements its proposal.
On Monday, the government announced the programme which is supposed to cut bond interest with zero percent coupon rate in 2023.
The move is said to be a requirement for an economic recovery programme from the International Monetary Fund (IMF).
Below is the release from TUTAG:
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