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Senyo Hosi, a Ghanaian business owner, said Akufo-Addo’s government indirectly transfers Ghana’s debts to future administrations through a domestic debt exchange program. Hosi said the government is deferring pensions’ liabilities for future generations later.
The Ministry of Finance proposed a new debt exchange program called the ‘Proposed Alternative Offer for Pension Funds,’ which has raised concerns among many people. The proposal involves exchanging current holdings of bonds for outstanding New Bonds, which offer an average coupon of 8.4% and an increase in patrimonial value.
The proposal also includes an additional cash payment of 10%. Due to cash constraints and macro-frameworks, both instruments will pay a 5% coupon in cash in 2023 and 2024.
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Source: Omanghana.com
