Aspiring New Patriotic Party (NPP) flagbearer Alan Kwadwo Kyerematen has pleaded with the government to exclude specific bondholders from the domestic debt exchange programme.
Should the government reject this call, he claims, the financial sector will suffer severely.
The government is still in contact with these investors despite the fact that the deadline for holders to sign up is less than a week away.
However, Mr. Kyerematen is of the opinion that individual holders are a vital component of the economy.
“When they invest money in bonds it’s basically savings because instead of them putting the money under their mattresses they are putting their money in secured instruments.
“If we touch the investments from these venerable groups, we are also making them lose the appetize and the desire for saving and that is the most dangerous thing that could happen to a country,” he said.
The former trade and industry minister advised the government to halt the debate on whether to include individual holders and instead concentrate on negotiating fair terms for institutional holders.
“In my view, having a debate about including individual bondholders and those involved in this collective scheme is creating a platform for very serious negative discourse which could potentially create both domestic and international problems for us,” he said.
Meanwhile, individual bondholders say the government should exclude their bonds from the debt exchange programme following the addition of the Ghana Association of Banks (GAB).
