Outrageous! Gov’t lies to individual bondholders; forces a haircut – Mahama

Former President John Dramani Mahama has accused the government of deception in relation to haircuts.

Mr Mahama indicated that contrary to assurance by the government that there will be no haircuts, individual bondholders are witnessing it currently.

In his view, this is plunging the bondholders into poverty.

In a tweet, Mr Mahama said “Outrageous! Gov’t lies to individual bond holders; forces a haircut, and plunging more people into poverty! An absolute failure in managing our economy.”

It is recalled that President Nana Addo Dankwa Akufo-Addo assured that no investor would lose his or her money including pensions funds, government treasury bills or instruments if Ghana finally seals a deal with the International Monetary Fund (IMF).

Mr Akufo-Addo noted that some members of the public were concerned that they would lose their investments if the deal with the Fund is closed,

But delivering an address to the nation on Sunday October 30, 2022 Mr Akufo-Addo allayed the fears saying, just as customers’ deposits were saved during the banking sector clean up exercise, no one will lose money in this also.

He said “There will be no ‘haircuts’, so I urge all of you to ignore the false rumours, just as, in the banking sector clean-up, Government ensured that the 4.6 million depositors affected by the exercise did not lose their deposits.

“I also want to assure all Ghanaians that no individual or institutional investor, including pension funds, in Government treasury bills or instruments will lose their money, as a result of our ongoing IMF negotiations.”

By Laud Nartey|3news.com|Ghana