Debt Restructuring: Health Services Warn Government Against Plans To Touch Worker's Pensions

• The Health Services Workers union has warned the government against plans to touch their pensions
• General Secretary of the Union, Franklin Owusu Ansah, vowed to resist ongoing attempts to touch workers' pensions as part of a debt restructuring programme
• This comes at a time government has announced a debt restructuring for domestic bondholders in the country

The government has been warned to stay off the pensions of workers in the country.

According to the Health Services Workers Union, such a move which forms part of a debt restructuring programme for the country, will be resisted.

Stay Away From Our Pensions - Health Services Workers To Government

Addressing the media, General Secretary of the Union Franklin Owusu Ansah warned the government to stay away from their pensions.

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"The President of Ghana reassured and reaffirmed to workers on this…the attempt to touch the pensions in the quest to restructure debts means the government is tampering with the present and the future of workers. Pensions and Investments are being put at risk by the actions of the government."

Franklin also added that the union would resist any attempt by the Akufo-Addo-led government to touch their pensions because their future was at risk.

Akufo-Addo Government Announces Debt Restructuring For All Domestic BondHolders In The Country

The concerns of the group come at a time the Akufo-Addo-led government has announced a debt restructuring for all domestic bondholders in the country in terms of interest payments.

Experts believe about 94 per cent of Tier 2 contributions placed in government security are likely to be affected in the proposed Domestic Debt Exchange programme, which was launched on Monday, December 5, 2022.

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Mixed feelings as government launches its Domestic Debt Exchange programme

Ofori-Atta: Finance Minister Announces Plans To Swap Cedi Debts for New Bonds In Domestic Debt Exchange Scheme

Earlier, YEN.com.gh reported that Ken Ofori-Atta had announced to local bondholders that there would be losses on interest payments under the Domestic Debt Exchange programme.

The exchange programme is the debt restructuring programme that the government needs to introduce in order to get the $3 billion bailout loan from the International Monetary Fund (IMF).

Source: YEN.com.gh