Cut expenditure further – Govt told

Going into 2023, Financial Analyst with the Dalex Finance Mr Joe Jackson says the government should do more that that.

Sharing his views on the Debt Exchange programme on Ghana Tonight on TV3 Tuesday December 6, Mr Joe Jackson stated that “At this moment, individuals who were wealthy enough to buy bonds in their own names are not being touched, Treasury Bills are not being touched.

“Unfortunately,” he added, “the smaller investor who is not rich enough to buy bonds in his name is now indirectly, being affected because that investor joined a corporate investment scheme, and the scheme being a corporate entity has been affected by the haircut.

The government must cut expenditure, they must show that they are willing to bear the pain.”

In this context, he said, by means of an Exchange offer, the Government of Ghana has been working hard to minimize the impact of the domestic debt exchange on investors holding government bonds.

Let me repeat this fact as plainly as I can, in this debt exchange individual holders of domestic bonds are not affected and will not lose the face value of their investments

So let us remove any doubt and discard any speculation that the Government is about to cut your retirement savings or the notional value of your investments.