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HomeBusinessDecision to include bondholders in Debt Exchange Prog. is autocratic - Afaglo

Decision to include bondholders in Debt Exchange Prog. is autocratic – Afaglo


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The Chief Executive Officer of Marrer Ghana Limited and Susagtad Boat Building, Mr. Novihoho Afaglo has described government inclusion of individual bondholders in the ongoing Debt Exchange programme as autocratic in an environment of triaving democracy.

According to him, the decision by the government is an infringement of the fundamental human rights of the Ghanaian bondholder and calls on the citizens to speak vehemently against such action.

Mr. Afaglo said, individual Ghanaians should not be made to suffer or carry the burden of incompetent New Patriitic Party (NPP) leaders who failed to manage the resources trusted into their hands.

Speaking to myrepubliconline last Sunday, Mr. Afaglo said “why should individuals suffer for the action of corrupt and incompetent leaders.”

“We have to resist all attempts if including blocking the various road network in town to register our displeasure on government decision to include individual bondholders because majority of these people were not the ones who created the current economic mess,” he stated.

He added that, Ghanaians should arise and condemn the January 31 decision as deadline proposed by the incompetent Fianance Minister, Mr. Ken Ofori-Atta because enough is enough.

Mr. Afaglo’s anger was to buttress an earlier release issued by the Christian Council and cross-session of other Ghanaians urging government to suspend the Debt Exchange programme immediately

He said all indication point to the fact that majority of Ghanaians don’t support the decision and therefore government must recent his decision and look for other alternative ways of absorbing the programme.

The CEO said per the public outcry, the only decision available to government now is to suspend the whole programme .

“In a Democratic environment, why do you fail to embark on participatory process where people would understand the reason why their bonds should be included in the programme rather than using force to compel them,” he stated.

“Even if their bonds should be included, there should have been thorough engagement with stakeholders to help appreciate the concerns of the affected individuals and institutions to allow for measures to be outlined to address the challenges.

He called on the government to suspend the programme of including individual bondholders into the Debt Exchange Programme or be prepare to meet a public revote from Ghanaians.

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