Convener of the Individual Bondholders Forum, Senyo Hosi has claimed that as the deadline draws near, some banks are being pressured to force their clients to accept the Domestic Dept Exchange Programme (DDEP).
Mr. Senyo Hosi stated on Tuesday, February 7, 2023 on Eyewitness News that the moved used by the Finance Ministry is illegal and immoral as this will bring doom to the country in the near future.
“Unfortunately on the market, we see some conducts that are unethical and also illegal. We see pressure coming from different quarters compelling banks to try and force customers to try and tender or accept the DDE, that is illegal, that is unethical and immoral,
“the risk of that is that tomorrow the same customer will come and say he accepted that under duress. Who is really going to take responsibility for that?” He added.
He further stated that the government has clearly demonstrated it’s unwillingness to make sacrifices and is only interested in using funds of ordinary hard-working citizens for the Domestic Debt Exchange Programme.
According to him, the failure of President Akufo-Addo to reduce his ministerial appointees in his latest reshuffle exposes the government’s unwillingness to cut down costs.
Meanwhile, an individual bondholder has revealed that none of the suggestions they made to the government to increase revenue without utilizing their funds in the Domestic Debt Exchange Program have been taken into account in the final proposals.
“Up until now, we have essentially seen only unilateral proposals. None of the conversations that were entered into by the technical committee between the government and the individual bondholders has reflected. All the proposals that we made that we talked about almost 83 billion cedis, none has been discussed by the government.”