Debt Exchange: Analysts Suggest NPP May Lose 2024 Election Because Economy Influences Voters’ Decision

• Analysts have painted a grim picture about the fortunes of the NPP in the next general elections in 2024
• Dr Theo Acheampong and Dr Kwame Asah-Asante say a lot of the things that have happened under the current administration could hurt the NPP's chances in 2024
• They believe the political cost of the widely condemned Domestic Debt Exchange programme may prove too much for the party to pay

A political risk analyst and a political science lecturer have suggested that the myriad of socio-economic decisions of the Nana Akufo-Addo government could hurt the governing New Patriotic Party (NPP) in 2024.

Dr Theo Acheampong and Dr Kwame Asah-Asante have said there is a high possibility the NPP will be punished by Ghanaian voters due to the current economic crisis and the posturing of the government in dealing with it.

Read also

Christian Council demands immediate suspension of Domestic Debt Exchange programme to allow for broader consultations

Speaking on a current affairs programme that discussed the political cost of the domestic debt exchange programme on Joy News TV, Dr Acheampong, the political risk analyst, suggests NPP may be losing its grip just like all incumbent governments all across the globe due to the economic crisis.

"Already given the dire situation of the economy -- high inflation, cost of living and other things -- the incumbent generally across the globe are losing significant grounds," Dr Acheampong said.

For Dr Asah-Asante, the posturing of the current administration amid the domestic debt exchange programme is problematic.

"The economy influences the decisions of a lot of voters. The current government is working against the tide and it will not augur well for them," he told PM Express, on January 18, 2023.

Read also

Finance Minister insists scrapping Domestic Debt Exchange programme is not an option

The political science lecturer at the University of Ghana said a look at all the policies of Akufo-Addo government, shows they are bereft of dialogue.

"The issue of dialogue has been missing from the equation as if they are running their own business," he added.

Government announced the domestic debt exchange programme as part of a debt restructuring drive in order to secure a $3 billion bailout money from the IMF.

The programme, among other things, proposes to suspend and later stagger the payment of coupon rates or interests on government bonds purchased by Ghanaians and some institutions.

Christian Council calls for immediate suspension of debt exchange programme

Meanwhile, YEN.com.gh has reported in a separate story that the Christian Council has made a passionate appeal for the immediate suspension of the Domestic Debt Exchange programme.

The council says it is of the firm view that the programme needs to be halted till broader stakeholder engagements.

Read also

Dr Ato Forson predicts Debt Exchange programme will lead to collapse of 5 commercial banks in Ghana

The demands come on the back of widespread agitations by individual bondholders after they were included in the programme.

Source: YEN.com.gh