Sammy Gyamfi Breaks Down Debt Exchange Says Many Bondholders Would Have Died Before Getting Their Monies

• The National Communications Officer of the NDC, Sammy Gyamfi has explained the Domestic Debt Exchange programme in simple terms
• He says several of the individual bondholders would have died before accessing their investments
• The inclusion of individual bondholders in the debt exchange programme has been met with intense opposition

Sammy Gyamfi, the National Communications Officer of the largest opposition, the National Democratic Congress (NDC) has explained in simple terms the Domestic Debt Exchange programme.

According to him, looking at the arrangements for individual bondholders included in the debt exchange programme many of them would have died before being able to access their investments.

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In a viral video in the possession of YEN.com.gh, Sammy took pains to explain the effect of the programme on individual bondholders. He said looking at the time frame issued by the government, several bondholders would have lost their lives.

“..for those people whose investment will be maturing in 2023, by the time you get the entirety of your principal in 2023, you will be ten years older, maybe you would have died and about 80 per cent or the entire money would have lost its value. What is even worse for those whose principals would be due in 2024 and beyond, as for them they are giving them 15 years. 2024, 2025, you are getting nothing,” he added.

That explanation of the debt exchange programme has generated intense reactions on social media.

Alex Boateng

Ghanaians must learn to invest their monies such that the youth would get job. If they had used the money to create jobs such wouldn't have happened. I pity them. Very sad situation. Sources of livelihood curtailed. The rest of us should invest in agriculture or other ventures that would create jobs for people.

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Tenderluv Lion

Dr. Please is all Mr Sammy Gyamfi saying true? If yes then the future of this country is nothing to rely on as a young Ghanaian. ❤️

Lamptey Wolokpaakpo Simon

If comm skill is a person, ladies and gentlemen, I welcome you to see, listen and experience certainty without doubt, that is lawyer Sammy Gyamfi. Kudos to him.

John Mensah

MR.Sammy is a genius....am always quite and focused whenever this intelligent man is speaking.. You are too much!!!

Ansah Justice

Sammy, thanks for the education..Ghana is indeed in a total mess. Must we sit down n watch Ghana go down further????????...I pity us, as youths

Nichema Sumaila

Can our constitution allow we the youth to elect or appoint Sammy as youth President to fight for us. True meaning of Very brilliant After listening to this I now know our stand us a country

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 has 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.

One such bondholder who spoke on Accra-based Joy FM on Wednesday, January 11, 2023, said they will fight their inclusion in the debt exchange programme as it will deny them and their families a means of survival.

Source: YEN.com.gh