A senior research fellow at the Kumasi Technical University, Dr. Smart Sarpong has blamed government for the current confusion arising from the inclusion of individual bondholders onto the debt exchange program.
According to him, the government should have had a broader consultation before arriving at such a conclusion.
Speaking in a phone interview with Kwaku Dawuro on Movement in the morning show on Wontumi Radio/Movement TV, he noted that “what is more worrying is the lack of consultation-those who will be affected by such decision should have been consulted. Bond is a long-term saving and if they needed their money in the shortest possible time, the subscribers could have subscribed to a treasury bill instead”.
“That’s why I will urge that the government goes back to the drawing board and consult them- this is imperative as the program seeks to touch the funds of the people”, he said.
Dr. Smart Sarpong furthered that it’s the only way to ensure a successful debt restructuring exercise to restore confidence in the economy- adding that employing such measures at this juncture will help accelerate the country’s recovery effort and avert such occurrences in the future.