The convener of the Individual Bond Holders Association of Ghana (IBHAG), Martin Kpebu, has called on the National Security Minister, Albert Kan Dapaah, to intervene and ensure that their funds are not included in the Domestic Debt Exchange Programme.
Speaking on the Big Issue on Citi TV/Citi FM on Saturday, January 14, Mr Kpebu advised all individual bondholders, to resist the temptation of signing onto the voluntary exchange of their existing bonds with the new ones floated by the government.
Chanting “Say No to DDE”, Mr Kpebu said the attempts of the Finance Minister to voluntarily include the funds of individual bondholders in the debt exchange programme amounts to a national security issue.
According to him, most of its members are pensioners, traders, teachers, public servants, and individuals who depend on the coupons from their investments to survive on a daily basis.
“As far as we are hearing, this is not a cabinet decision, it is not a cabinet decision…so we ask Kan Dapaah to step in. This is a national security matter.”
Mr Kpebu maintained that the Akufo-Addo led-government continues to overspend and live beyond its means which has contributed to the current crisis.
He called on President Akufo-Aaddo to cut down on the bloated government machinery made up of party boys and girls with outrageous pecks.
He added that his group will continue to reject the debt exchange proposal by the government until proper consultations are held with all individual bondholders.