I LOST MONEY MEANT TO SUPPORT MY SCHOOL TO EURROBOND HAIRCUTS – Michael Blackson

“How can I make sure this thing lasts forever? So what I did was… that the difference between Ghana and America is that Ghana will give you a higher interest rate on your money.

“Because the Ghana bonds will give you a very high percentage. So I said to myself, ‘I’m going to invest money in my country and use that interest to manage the school forever’,” he said.

Blackson maintained his faith in Ghana’s stability in spite of his American bankers’ cautions about the dangers of making investments in a developing nation.

But the unanticipated Eurobond haircut denied him the gains he had anticipated.

“I remember when I was sending the money little by little, my bankers in America were like, ‘Mike, this is a third world country. Are you sure you want to send your money?’

“I told them not to talk crap about my country. Because I know for a fact the only way a bond could go bad was through a civil war.

“And Ghana can’t have a civil war. We are too peaceful. We’re too loving. We’re not going to hurt each other. Nothing will happen. So I said, there’s no way my money could go wrong. And guess what? I was wrong.

“I did a Eurobonds thing and now… nothing,” he said.

Blackson stated that, in an effort to maintain the school’s operations, he has turned to charitable organizations and intends to schedule fundraising events across the country.