The Finance Minister has stated that the government is prepared to meet with Organised Labour to discuss their concerns about the debt exchange program.
Several labour unions, including the Trades Union Congress, have spoken out against pension fund cuts as part of the debt exchange program aimed at assisting the country’s economic recovery.
Ghana National Association of Teachers (GNAT), Ghana Registered Nurses and Midwives Association (GRNMA), National Association of Graduate Teachers (NAGRAT), Ghana Medical Association (GMA), Ghana Chamber of Commerce, and Trades Union Congress (TUC) are among them.
As a result, the unions have vowed to oppose any attempt by the government to reduce the value of their members’ pension funds, which are invested in institutional bonds.
The TUC declared on Monday that none of its members would take part in a program that would only make their situation worse and subject them to even greater hardship.
The TUC and all of its affiliates have decided that the pension funds of its members will not participate in the Debt Exchange Programme, according to TUC Secretary General Dr. Yaw Baah.
“The TUC and all our affiliates have decided that the pension funds of our members will not be part of the Debt Exchange Programme…within one week, the government should ensure that all pension funds including SSNIT funds be exempted,” he said.
However, Mr. Ofori-Atta stated in a Tuesday press briefing that the government would keep in contact with organized labour and try to reach an agreement with them before the deadline for the debt exchange program.
“We are certainly listening, we have had a lot of engagements and we will continue with the unions and really also all of us asking ourselves whether an orderly process to where we want to go is what we all seek and within that what sacrifices and burden sharing that we have,” Mr. Ofori-Atta said.
