Debt Exchange: Concerns gov’t is scamming investors genuine — Sam George

Debt Exchange: Concerns gov’t is scamming investors genuine — Sam George

Member of Parliament for the Ningo Prampram Constituency, Samuel Nartey George, has said that concerns by investors of the various government bonds that they are being cheated in dubious ways are valid.

According to him, the government’s decision, taking unilaterally to change the terms and conditions under which these bonds were procured is a cause for people to worry.

Government bonds such as the “Daakye bond, ESLA bond, and Getfund are allegedly under contemplation for a debt restructuring programme.

Speaking on Metro TVs Good Morning Ghana on Tuesday, 2nd May 2023, the Ningo Prampram MP stressed that however sad the situation may sound now, considering how investments are inconsiderably being shoved under the debt exchange programme, he will not be surprised to hear of the Heritage Bond suffering a haircut too.

“It is moving from one person to another. First, it was those who just bought [the] government bonds, then it moved to pensioners, and now it is “Daakye” and ESLA bonds, I wonder, I’m sure if there was any tax or any money that we were putting together….don’t be surprised they will go after the Heritage Fund very soon, money for our unborn children.”

What makes the matter overwhelming for Sam George is that the government is yet to breathe on the issue, a reason for people to believe that the government is insincere with them.

“[The] government revenue has not….we’ve not gotten any reports that tell us that Getfund revenues or Ersla revenues have dropped. And so on. What basis should people who have bought government bonds, ESLA Bonds and Getfund Bonds, or Daakye Bonds be struggling with contemplating a haircut if it’s not the government seeking to scam them? The government is simply seeking to scam them. ”

Wading into the discussion, the Member of Parliament for the Ngleshie Amanfrom Constituency, Sylvester Tetteh blatantly refuted Sam George’s claim of government soon tapping into the Heritage Fund.

He assured that the government will not tamper with it and stated that it will be a despicable thing to do.

By Leonora Enyonam Annoh | | Ghana

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