Nkonkonsa Celebrity Gossip From Africa
Ghanaian broadcaster and political pundit, Dr. Randy Abbey has slammed the government for its debt exchange programme and the alleged ‘haircuts’ on some bonds.
Speaking on the Good Morning Ghana show on Metro TV on Thursday, February 29, 2024, Dr. Abbey said the government was being unfair and dishonest to the investors who bought bonds backed by the Energy Sector Levy Act (ESLA) and the Ghana Education Trust Fund (GETFund).
He claimed that the tax money collected from these levies, which hasn’t been eliminated, cut, or withdrawn, was meant to secure these bonds.
He claimed that the government was imposing “haircuts,” or cutbacks, on the principle and interest payments, in violation of its pledge to pay the full value of the bonds.
“You come to me and you tell me ‘look, I have a levy called ESLA. It brings in X amount of money every time. And so I want to use this to raise funds. I am selling ESLA bonds. Come and buy. Or there is a tax handle called the GETFUND levy, this is how much it rakes every month. I am creating a bond for you to come and buy. This is a tax handle, statutory funds are going in. Your money is safe and based on that, I invest.
“These tax handles have not been withdrawn. They have not been reduced. They have not been scrapped. And then you tell me that you won’t pay me what I’m entitled to. And then, after all that, you tell me you will reduce it?” he quizzed.
According to Randy Abbey, this is a betrayal of confidence and a disrespectful gesture towards the public and investors.
According to him, the government didn’t give a damn about how its acts would make people feel or behave.
“It’s like you’ve checked out. You don’t even care how people will feel. Because when you feel how they will feel, you will not act like that,” he said.
He declared that the government ought to do its duties and quit manipulating the economy.
NKONKONSA.com
