Legal Practitioner and the Founder of Danquah Institute, Gabby Asare Otchere-Darko, has said the country is in a very difficult place regarding the Debt Exchange Programme.
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 afteroon, 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.
Source: Peacefmonline.com
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