Dr. Mathew Opoku Prempah, the running mate for the New Patriotic Party (NPP), has apologized on behalf of the ruling party to pensioner bondholders for the difficulties they faced during the Domestic Debt Exchange Programme (DDEP).
He called their experience ‘unfortunate,’ but emphasized it was a necessary step for the economy’s survival.
Bondholders rescued Ghana in our times of stress
On behalf of Dr Mahamudu Bawumia and the NPP, we sincerely apologise to the DDEP. The pains and hardships they have gone through over the period, they should see it as an ultimate sacrifice for Ghana
We have to beg them, people experienced some very unpleasant moments under the DDEP and we have to apologise to them
Pensioner bondholders previously staged a protest at the Finance Ministry, calling for their exclusion from the domestic debt swap. As part of the government’s debt restructuring program, some Ghanaian bondholders risked their investments when former Finance Minister Ken Ofori-Atta prioritized economic recovery over their interests. This led to multiple protests, including a warning from former Chief Justice Sophia Akuffo against touching their investments.
After reviewing the program, pensioners were ultimately excluded, but other bondholders had to forfeit their hard-earned money. Dr. Mathew Opoku Prempah assured that the pensioner bondholders will receive their funds as promised.
