A Lecturer at the Kumasi Technical University, Dr. Solomon Fokuo has urged government to appoint individuals who could negotiate and communicate better with the bondholders, in order for them to subscribe to the Domestic Debt Exchange programme.
According to him, he believes the resistance by the bondholders is as a result of lack of consultation. Hence, when the government is able to communicate and negotiate better, cool heads will prevail.
Speaking on Movement in the morning show on Movement Tv and Wontumi Radio with Kweku Dawuro, Dr Solomon Forkuo explained that the pensioners and individual bondholders should get to understand that the program is for the betterment of the entire country- and that if the bailout from the IMF isn’t successful, government will be force to pay back the bond from its own coffers and because that money isn’t available, the only option left will be that government would have to print new money and that will drastically increase inflation.
“Even if the NPP losses power, any party that takes over will face great challenges which may take more than 6 years to resolve. This is because the foundation was very weak during the outbreak of the global crisis. Hence, the need for Ghanaians to cooperate with the government”, he said.
Whiles commending the NPP government, Dr. Forkuo contended that the NDC has nothing good to offer Ghanaians..
“I will urge the bondholder to exercise patience and give the government a listening ear”, he concluded.