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:
- My wife has left me because of my child with another woman – Osofo Kyiri Abosom
- Officials of China Mall, Shoprite, Palace Mall picked up for tax violations
- WAEC explains BECE grading system
- 8 persons arrested in ‘School placement for sale’ exposé
- 3 grabbed for pulling down storey building at Cantonments
- Cost of fuel: Ghanaians must pay fair market prices – PUMA Energy President
- Policy rate increases to 28%; cost of loans to surge
- Assault on Latif Iddrisu: No policeman touched him – Attorney General
- Swansea fans clamor for Andre Ayew return
- Pay Toure over ¢100k within 45 days or face transfer ban – FIFA orders Medeama
- Minority Caucus meeting over removal of Minority leadership postponed for the second time
- $5.4bn in Covid aid may have gone to firms using suspect Social Security numbers
- 84% of countries to have lower inflation in 2023 – IMF
- Knowing when to quit is an important part of being a good leader
- Non-science students to be allowed to study desired science courses at the University – Education Minister
- Chicago prosecutor drops R Kelly’s sex-abuse charges
- Advisory for travellers entering the UK on February 1 amid strike action
- UK only major economy to shrink in 2023 – IMF
- Leicester City sign Ghanaian youngster Nathan Opoku
- Ghana places 73rd again, stagnates in 2022 Corruption Perceptions Index
- Phoebe Dynevor reveals she will not be in Season 3 of ‘Bridgerton’
- Children as young as 9 years exposed to pornography – Study
- Startup CrownCity Technologies now lSO/IEC 27001:2013 and PCI DSS Version 3.2.1 certified
- Debt Exchange: NIC to suspend minimum capital requirements, CAR of insurance firms for 2 years
- Mammoth crowd welcome Alan Kyeremanten to Kumasi