Actress Lydia Forson has poked leading member of the New Patriotic Party (NPP) Gabby Asare Otcere-Darko with respect to current economic challenges Ghana is facing.
Miss Forson, who is known for her hot takes on the economy and politics, coughed up a tweet Gabby authored in 2015 when the NPP was in opposition, she quoted the tweet and sarcastically greeted Gabby.
Gabby’s post read: “If running an economy was all about borrowing your way into an unsustainable debt hole then any half wit could be president.”
Lydia Forson’s quoted tweet of December 5, 2022; read: “Hello from the other side,” accompanied by an emoji of a waving hand.
Ofori-Atta announces Domestic Debt Exchange:
The Minister of Finance announced a number of measures under government’s Domestic Debt Exchange (DDE) programme late Sunday.
He stated in a 4-minute address that the announcement was in line with government’s Debt Sustainability Analysis as contained in the 2023 budget he presented to Parliament on November 24.
The Minister laid out among others the exchange of existing domestic bonds with four new ones as well as their maturity dates and terms of coupon payments.
He also addressed the overarching goal of the government relative to its engagements with the International Monetary Fund as well as measures to minimize impact of domestic bond exchange on different stakeholders.
“The Government of Ghana has been working hard to minimize the impact of the domestic debt exchange on investors holding government bonds, particularly small investors, individuals, and other vulnerable groups,” he said before outlining three main measures:
• Treasury Bills are completely exempted and all holders will be paid the full value of their investments on maturity.
• There will be NO haircut on the principal of bonds.
• Individual holders of bonds will not be affected.
Watch the Minister’s address below: