We won’t consent to Ofori-Atta’s debt restructuring – Minority

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The planned debt restructuring scheme as outlined by the government will not be accepted, according to the minority in parliament.

The policy, in the opinion of the Caucus, is unacceptable and cannot be allowed to continue.

This was said by the Minority Leader, Haruna Iddrisu, on Monday, December 5.

He declared that his group will fight the proposal using all appropriate methods.

“Let me state without any fear of contradiction that the form and structure of the debt restructuring announced by Finance Minister Ken Ofori-Atta this morning are unacceptable to us and we simply will not accept it.”

The Tamale South lawmaker also questioned why the 2023 budget was silent on this policy.

“I want to ask how come this debt restructuring was not included in the 2023 budget”The controversial politician continued.

On Sunday, December 4, Finance Minister Ken Ofori-Atta unveiled the government’s domestic debt swap scheme.

These procedures contain a few exclusions and guidelines for the restructuring of foreign debt.

Treasury bills and individual bondholders won’t be impacted by this exercise, according to his announcement.

Domestic bondholders, meanwhile, will be required to exchange their current securities for new ones.

Mr Ken Ofori-Atta assured that there will be no haircuts on the principal of bonds.

Source: Ghanatodayonline.com

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