Home » Domestic Debt Exchange: Menzgold is better than this government – Sammy Gyamfi
Business Finance

Domestic Debt Exchange: Menzgold is better than this government – Sammy Gyamfi

Sammy Gyamfi, the National Communications Director of the National Democratic Congress (NDC) has slammed the Akufo-Addo-led NPP government over the domestic debt exchange program.He stated that negative impact the debt-swapping policy will have on bond...

Sammy Gyamfi, the National Communications Director of the National Democratic Congress (NDC) has slammed the Akufo-Addo-led NPP government over the domestic debt exchange program.

He stated that negative impact the debt-swapping policy will have on bondholders will be no different from what the gold investment firm Menzgold did to its customers.

Contributing to the matter on Accra-based Metro TV’s “Good Morning Ghana” show, Sammy Gyamfi asserted that the same reason the government embarked on the financial sector clean-up, including NAM 1’s defunct Menzgold, is what is currently looming.

He claimed that the Finance Ministry headed by Ken Ofori-Atta was not able to pay its creditors, hence their move to force Ghanaians to carry the cross of overborrowing and high spending.

“…Menzgold is better than this government. The financial companies that you shut down, what was the reason? You shut them down because they were unable to pay their depositors. Today, you can’t pay your creditors, are you better them,” he stated.

His statement comes amid countless protests from Ghanaians, both at home and abroad, over the debt restructuring program.

Source: Modern Ghana

Calender

February 2024
M T W T F S S
 1234
567891011
12131415161718
19202122232425
26272829