The National Democratic Congress (NDC), says the government has no justification to indirectly impose a draconian Domestic Debt Exchange programme on Ghanaians.

The National Communications Officer of the NDC, Sammy Gyamfi said this when he addressed journalists on February 1, 2023, under the “Moment of Truth” series at the party’s head office.

“Friends from the media, in the face of this unpardonable and despicable raid on the public purse, there can be no justification whatsoever for the Akufo-Addo/Bawumia government to attempt to indirectly impose a draconian debt exchange programme on the Ghanaian people in order to clean a mess they and their cronies in government have created,” Mr. Gyamfi stated.

He charged organised labour, trade unions, pensioners, individual bondholders, banks and other stakeholders to stand firmly against the DDEP.

“It is therefore within the right of labour, trade unions, pensioners, individual bondholders, banks and other stakeholders to stand firmly against the brazen attempt to foist and impose unfavourable terms of a so-called domestic debt exchange programme on them,” Mr. Gyamfi asserted.

According to him, the DDEP seeks to expropriate the life savings and hard-earned monies of government creditors including Ghanaian citizens.

“It is a fact beyond dispute that Ghana is now bankrupt and our economy has finally collapsed under the watch of President Akufo-Addo and his Vice, Alhaji Bawumia. Having run down our economy through reckless and inordinate borrowing, stealing, and outright abuse of public funds. The Akufo-Addo/Bawumia government in a desperate move to clinch an IMF deal which appears to be their last gasp for breath has resorted to a Domestic Debt Exchange programme which seeks to expropriate the life savings and hard-earned monies of government creditors including Ghanaian citizens,” the NDC’s National Communications Officer emphasised.

Sammy Gyamfi warned that the party will not allow the government to further punish suffering Ghanaians.

“We wish to make it clear that we cannot and will not accept any situation where the Ghanaian people will be further punished and made to suffer for the wilful mismanagement and destruction of our economy while the thieves in government who continue to milk the state coffers dry are left off the hook to enjoy their loot,” he said.

After several agitations against the debt exchange programme, government subsequently revised the terms for the programme and extended the deadline to February 7, 2023, following the expiration on January 31, 2023.

This follows the agreement government reached with the Ghana Association of Banks (GAB), Ghana Insurers Association (GIA), and the Ghana Securities Industry Association (GSIA).

Government said a revised and final Exchange Memorandum will be released by February 2, 2023.