NDC Lacks Credibility To Advise Gov’t On Debt Exchange Programme – Eric Okyei Baffour

Communications team member for the New Patriotic Party(NPP) , Eric Okyei Baffour has lashed out at the opposition National Democratic Congress(NDC) saying they have no credibility to advise government on debt exchange programme.

According to him, the NDC lacks the moral right to advise government on how they should go about with the debt exchange program.

Eric Okyei Baffour says the Akufo-Addo-led administration will do everything possible to ensure that depositors do not lose their funds as the government embarks on a debt exchange programme.

He claims its track record of Saving depositors’ funds in the banking sector clean-up should give hope to Ghanaians that investors’ funds will be saved.

” Let me tell you today that the NDC has no credibility to advise government on how to go about debt exchange programme.Government has always shown commitment on several occasions on how to manage Ghana’s debt,”Eric Okyei Baffour told Accra-based Net2 TV.

Eric Okyei Baffour assured that investors’ funds are in safe hands.

“The government in the run-up to the collapse of many banks in the country, we had to come up with the Financial sector clean up and we had to make sure that over 4 million citizens of Ghana deposits were being saved, this is a government that has done it before.”

Eric Okyei Baffour said, that was also the path towards resetting the country’s economy to a more stable one capable of addressing the development challenges of the country.

The government has been severely criticised for introducing a new arrangement to vary maturity dates and annual interest for domestic debt bondholders.

Several labour unions including the Ghana Medical Association, the University Teachers Association, the Ghana Miners Union and Trades Union Congress have expressed their opposition to the move.