GMA rejects Ghana’s Domestic Debt Exchange Programme

The Ghana Medical Association (GMA) has become the latest union to kick against the Government’s decision to roll out the government’s Domestic Debt Exchange Programme.

In an attempt to restructure the country’s unsustainable debt levels, the Government through the Minister of Finance Ken Ofori-Atta introduced the Debt Exchange Programme.

The government thus invited “holders of domestic debt to voluntarily exchange approximately GH¢137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, for a package of New Bonds to be issued by the Republic.”

But the Ghana Medical Association said it is “troubled and alarmed by the negative impact that the Debt Exchange Programme announced by the Finance Minister will have on workers’ pensions in particular and health care delivery in the country.”

The Association also said not only will the debt exchange affect pensions, but it will also impact negatively patient care, medication supply and claims management.

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