Wednesday, 22 May

DDE: Ofori-Atta has earbuds in his ears – Edgar Wiredu

Edgar Wiredu

An investment and insurance marketer has expressed concerns about the posturing of the Finance Minister, Ken Ofori-Atta on the implementation of the Domestic Debt Exchange programme (DDE).

Mr Edgar Wiredu is of the view that the posturing of the finance minister since the announcement of the implementation of the DDE programme has not been helpful.

He minced no words to say the minister is not listening to any wise suggestions made to him since the government found itself in the ditch as a result of the mismanagement of the economy. 

He said the posturing of the sector minister has been a contributory factor to the skepticism that has marked the acceptance of the DDE programme hence its postponements.

He stressed the posture of the minister is the reason the individual bondholders are finding it difficult to accept the programme.

He explained that the minister is not forthright with the DDE programme.

He asked why people should be forced to accept a voluntary debt programme.

Mr Wiredu, also a lawyer by profession, raised these concerns while speaking to the issue of the extension of the deadline of the DDE programme by the ministry to February 7, 2023.

He spoke on the 6 p.m. evening news on Accra 100.5 FM on Tuesday, January 31, 2023.

"Why is the government forcing the DDE down the throat of individual bondholders when the same ministry argues that the exercise is voluntary? 

"What sort of country is this? People have invested their money in a five-year government bond and signed a contract and instead of the government living up to the tenets of the contract, it wants to breach the contract signed with the bondholders.

"What is going on in this country? he wondered

Source: Mensah