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In his 2025 State of the Nation address, President John Dramani Mahama provided an update on the controversial debt exchange program started by the previous government.
He reassured bondholders, urging them to stay calm because his administration would fulfill all obligations and ensure everyone received full payment.
“Bondholders can rest assured that they will be paid up to the last pesewa,” Mahama said.
The NPP government implemented the debt exchange program after borrowing excessively and starting to default on its debts.
To secure a $3 million loan from the International Monetary Fund (IMF), they had to agree to this program.
This program became highly unpopular, as many bondholders lost their investments, and others had to accept terms they found unfair.
One significant victim, Michael Blackson, has repeatedly voiced his frustration about being cheated by the previous government, resulting in a loss of over $1 million.
NKONKONSA.com
