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Kwesi Pratt likens Debt Exchange Programme to George Floyd's 'can't breathe' situation

Kwesi Pratt likens Debt Exchange Programme to George Floyd's 'can't breathe' situation

Seasoned journalist and Managing Editor of the Insight newspaper, Kwesi Pratt Jnr, has said the Debt Exchange Programme is not the ultimate solution to Ghana’s economic woes.

“This is where we are and I think that all of this finally emphasises the point that debt restructuring though it may grant some relief, ultimately it is not the solution to the problem which confronts us,” he said on Accra-based Metro TV.

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To him, less value on resources is the fundamental problem that needs to be addressed for the stabilisation of the economy.

“Now if you have a situation in which you know you exploit gold and send it out of your shores and only 2% of the value comes back into your economy, why will you not be in debt

And if you don’t address that fundamental problem, the debt will still be there,” he urged.

Govt reaches agreement with banks on new terms for debt exchange programme

Many groups have called for exemptions from the Domestic Debt Exchange Programme but Finance Minister, Ken Ofori-Atta has explained it is a key requirement for the International Monetary Fund bailout.

Original Story on: AdomOnline
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