Audio By Carbonatix
During the filing of his nomination papers on Wednesday, New Patriotic Party flagbearer aspirant Bryan Acheampong, during his address, promised to pay all domestic bondholders under the Domestic Debt Exchange Programme (DDEP).
While Bryan Acheampong's promise looks so sweet on paper, the fact is that what he is seeking to do is not possible to achieve, in line with the DDEP agreement.
First, the bondholders are on two fronts: domestic bondholders and foreign bondholders.
And under the DDEP agreement with bondholders, there is a critical clause known as the “equal treatment clause”. The equal treatment clause means that Ghana MUST give all bondholders equal treatment.
So contrary to Bryan Acheampong's promise, he can’t decide to just pay domestic bondholders without paying the foreign bondholders as well. That is not possible.
Any attempt to do so will mean Ghana will lose all the debt relief it has obtained through the negotiations.
As a senior member of the erstwhile government, indeed a Cabinet Minister, I expected Dr. Bryan Acheampong to have known better and know much more about this.
And if he didn't know, he should have consulted members of his party or his campaign team with deep knowledge in these matters to educate him before coming out with such a promise, which is not possible to fulfil under the DDEP agreement.
Revise your notes and come again, Bryan.
Latest Stories
-
Landfilling waste management creates no value, it’s an economic waste
6 minutes -
Photos: Speaker Bagbin Commissions MPs constituency office under parliamentary decentralisation programme
22 minutes -
Black Stars technical advisor Winfried Schäfer sacked as GFA shakes up backroom staff
26 minutes -
Wenchi water project almost complete, critical to gov’t agenda – GWL MD
42 minutes -
Anti-LGBTQ+ bill not part of government’s legislative agenda – Inusah Fuseini
44 minutes -
Anti-LGBTQ Bill: Forget the rumour mongers, I’m a man of action, and will pass the bill – Speaker
2 hours -
Women and children among those killed in Sudanese army shelling of wedding celebration
2 hours -
President Mahama is not sincere with Ghanaians on LGBTQ bill matter – Hassan Tampuli
2 hours -
Gov’t to establish Prison Industrial Hub to equip inmates with income-generating skills – Prison Service boss
2 hours -
Alhassan Tampuli donates cement, roofing sheets to support storm victims in Gushegu
2 hours -
Alhassan Tampuli appeals for urgent support for storm victims in Gushegu
2 hours -
The hypocrisy must stop; pass Anti-LGBTQ+ Bill now – Alhassan Tampuli to Mahama
2 hours -
Imprisonment should be rehabilitative, not punitive – Ghana Prisons boss at UNGA
3 hours -
Ga Adangbe traditional priests petition Mahama over McDan aviation licence revocation
3 hours -
Anti-LGBTQ Bill: NDC’s arrogance is worrying – Hassan Tampuli
3 hours