Leading member of the New Patriotic Party (NPP) and the Founder of Danquah Institute, Gabby Asare Otchere-Darko, says, Ghanaians should face the hard truth in addressing the economic challenges the country is reeling under.
He said the country is in a very difficult place regarding the Debt Exchange Programme and that the outright rejection from bondholders will not augur well for the economy.
According to him, what we are seeing with the mobilisation of agitation on individual bondholders poses a real and serious risk worse than what we witnessed when opposition to E-levy succeeded in derailing an already shaky macroeconomic situation from 2021.
In a series of Tweets on Sunday afternoon, he said the debt exchange programme is voluntary for individual bondholders but a very necessary evil for our economy.
“Its success is critical to restoring macroeconomic stability, securing an IMF programme. It hits those of us holding bonds very hard. A straight no to it is no solution,” he said.
“I’m sorry but we have to face the hard/painful truths. We a’int sitting pretty. Our focus must be on how the burden to individual bondholders may be possibly eased; but not to take the hardline position of simply saying no to participation. It will come back to hit us harder!” he added.