A senior lecturer at the University of Ghana, Professor Ransford Gyampo has fired the Finance Minister over the government’s debt exchange programme. 

Professor Gyampo said Mr Ken Ofori-Atta cannot take the pension funds of others while his is kept elsewhere. 

According to him, the move will be opposed vehemently. 

In a Facebook post on Tuesday, December 13, the lecturer said Mr Ofori-Atta’s soft tone can only “deceive” parliamentarians. 

“Dear KOA, Yes, a destabilised macroeconomy is an enemy of pension. But we won’t allow you to forcibly take our pension while yours is secured elsewhere. 

“Your soft tone can only deceive parliament’s censure committee, not labour,” he posted. 

The programme which was announced by the Finance Minister, Ken Ofori-Atta on Sunday, December 4, is aimed at realigning some domestic bonds. 

This, when achieved, will give the government fiscal space ahead of the bailout package from the International Monetary Fund (IMF).

Mr Ofori-Atta in a subsequent presser on Monday said the government was inviting “holders of domestic debt to voluntarily exchange approximately ¢137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, for a package of New Bonds to be issued by the Republic.”

The domestic debt exchange programme, which is a Government initiative seeks to classify domestic bonds into four categories to create fiscal space as part of preparations to qualify Ghana for an IMF facility.

The Minister also promised that there will be no haircuts on principals but the venerable chief disagrees.

But since the announcement, a number of groups had publicly voiced their rejection of the programme. 

Groups such as the Trades Union Congress (TUC), the Ghana Medical Association (GMA) and others have openly rejected the idea.

According to them, the move will not auger well for their members.

They have thus vowed not to allow government to succeed in this quest.