Individual bondholders in Ghana have dismissed the apology offered by Finance Minister Dr. Mohammed Amin Adam regarding the difficulties they have faced due to the Domestic Debt Exchange Programme (DDEP).
The minister, acknowledging the significant hardship caused by the DDEP, apologized to Ghanaians, attributing the economic challenges to the program’s implementation.
Dr. Amin Adam’s apology was meant to address the widespread discomfort and financial strain brought on by the DDEP, a government initiative aimed at restructuring the country’s debt.
However, bondholders, who have been directly affected by the program, have largely rejected the apology, expressing dissatisfaction with the government’s handling of the situation.
The bondholders argue that the apology does not alleviate the financial losses and emotional stress they have endured due to the DDEP. Many have criticized the government’s approach, calling for more substantial measures to compensate for their losses and to restore confidence in the country’s financial system.
The DDEP, introduced as part of efforts to stabilize Ghana’s economy, has been controversial, with many bondholders facing massive reductions in the value of their investments.
The program has sparked widespread debate and protests, with affected individuals and groups demanding better terms and more transparent communication from the government.
Report by Dede Davies