Govt still peddling falsehoods in the middle of a crisis – Ato Forson

Ranking Member on Parliament’s Finance Committee has described as a hoax government’s suggestion that there will be no haircuts on investments.

He noted that factors such as the cedi depreciation, inflation among others will cause investors to lose significant value on their bonds despite the government’s ‘no haircut’ mantra.

Speaking on JoyNews’ PM Express, he said, “First of all it is a hoax for a government to suggest that there will be no haircut.

For example, I have one million Ghana cedis bond in a government bond, for example, I’ve bought the Daakye bond and it’s one million Ghana cedis.

“This Daakye bond is supposed to mature in 10 years’ time or probably let’s even use the three years Daakye bond.

“You’re saying that you have ceased the bond and now that bond, one, instead of me getting all my one million cedis in the next two or three years you’re saying you’re giving me 17% in five years’ time, another 17% in seven years’ time, 25% in 10 years’ time and then indeed 41% in 15 years’ time.

The invitation is available only to registered holders of eligible bonds that are not individual investors or that are otherwise authorised by the Government of Ghana, in its sole discretion, to participate in the Invitation