Laud Nartey writes: Debt Exchange or Debt Restructuring/Haircuts: Uncertainty has no room in financial sector | 3News.com

Leadership of the country at the time, under the Mahama administration, raised issues against the judgement of some of these victims for investing in schemes that were promising outrageous and unrealistic returns on their investments.

There were panic withdrawals at the time when the regulator announced that some banks were going to be merged whereas the licenses of some financial institutions were going to be withdrawn.

The panic withdrawals were meant to take the deposits to safe havens – banks that were considered viable, mostly foreign-owned.

Also whether there is Debt Restructuring and Debt Exchange

Despite the repeated assurances by the Finance Minister, Ken Ofori-Atta, the President and other government communicators that there will be no haircut, a lot of investors, deep within them, are not satisfied with the assurance.

In my view, given the sensitive nature of the sector we are dealing with, and with the benefits of experience regarding the past crises in the sector, one would have thought that the government would have done extensive sensitization and engagements way in advance before announcing this Programme.

It is refreshing that government has said there is going to be constant engagement on the Debt Exchange Programme.