Debt Exchange: Martin Kpebu Rallies Ghanaians Against Programme; Says Treasury Bills May Be Next Target

• A private legal practitioner has rallied support against the Domestic Debt Exchange programme
• Martin Kpebu says this is necessary because the government will soon include treasury bills under the next phase of the programme
• He has thus described the programme in its current form as problematic and not in the nation’s best interest

Lawyer Martin Kpebu has called on all and sundry to join in the fight against the Domestic Debt programme in its current form.

He says the programme when left to stand will impoverish several ordinary Ghanaians.

Martin Kpebu Projects The Inclusion Of Treasury Bills In Next Phase Of Domestic Debt Exchange Programme

The private legal practitioner has gone a step further to claim that treasury bills are likely to be included in the next phase of the programme.

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Speaking on Accra-based Joy FM, he said the actions of the government are pointing to that fact.

“….the government is giving an indication that very soon they will jump onto the treasury bills.”

Domestic Debt Exchange: Martin Kpebu Says Government Is Already Exploring Idea Of Including Treasury Bills

Referencing portions of a document on the domestic debt exchange under the heading eligible bonds, Martin Kpebu said the government in its own words had indicated that:

“Treasury bills issued by the Republic and certain non-marketable security issued by the Republic are not subject to this invitation to exchange. Such treasury bills and nonmarketable securities may however be the subject of other exchanges and purchases by the government of Ghana from time to time.”

He said this message reinforces his belief that holders of treasury bills are not safe from the debt exchange programme.

Debt Exchange: Individual Bondholders Lament Uncertainties; Say They Cannot Survive If They Are Included

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Earlier, YEN.com.gh reported that Ghana’s effort to quickly negotiate the Domestic Debt Exchange programme with bondholders in the country had suffered another setback.

The government earlier included pension funds in the programme but had to quickly withdraw it after labour unions threatened a massive industrial action.

Under an umbrella body, the Ghana Individual Bondholders Forum (IBF), the group has rallied all individual bondholders to reject the deal in its current form.

Source: YEN.com.gh