A Banking Consultant, Dr. Richmond Atuahene, says government\u2019s refusal to implement other debt operations apart from the debt exchange programme could land the country in some very difficult situation.<\/p>\n\n\n\n
Ghana is inviting eligible holders to exchange GH\u20b5137.3 billion of the domestic notes and bonds, including Energy Sector Levy Act Plc and Daakye Trust Plc, for a package of New Bonds to be issued by the country.<\/p>\n\n\n\n
According to Dr. Atuahene, rather than only implementing the debt exchange programme, the government could have also employed the debt rescheduling programme and debt re-profiling programme to ensure our debts reach sustainable levels.<\/p>\n\n\n\n
He explained that just implanting one debt operation could hit the country very hard and prove counterproductive in the end.<\/p>\n\n\n\n
\u201cIt\u2019s not a one size wear. As I said, there are so many models or options for us, but it looks like we have stuck to one which could make it very difficult for us. We could have looked at in addition, a little bit \u2026they don\u2019t want the word \u2018haircut\u2019, but per my calculation if you do even 5% of it, NPV value, you will get somewhere.<\/p>\n\n\n\n
\u201cAnd then you do the rescheduling and the re-profiling and a bit of\u2026.but if you take one and go straight to it, it\u2019s going to hit the country very, very hard,\u201d he said on JoyNews\u2019 PM Express.<\/p>\n\n\n\n
Dr. Atuahene explained that the debt exchange programme could affect output in the country, which could lead to high unemployment rates and lower revenues for the country.<\/p>\n\n\n\n
\u201cNobody thinks about the output, it\u2019s going to have effect on the output. And it will in turn affect revenue generation, because if people are being laid off, production is going to go down, how are you going to get taxes on the profitability and what have you? So we\u2019re in a very critical situation and I believe it is not too late.<\/p>\n\n\n\n
\u201cThey should get back and consult very well. Consultation matters because we have various good people who understand this so that we can tell people. But the way as it is, as if somebody has got a jacket he just put it on your head \u2018take it or leave it\u2019. I mean if you have my money and you tell me take it or leave it then it means you mean I should go and die,\u201d he said.<\/p>\n\n\n\n
source:joynews<\/p>\n","protected":false},"excerpt":{"rendered":"
A Banking Consultant, Dr. Richmond Atuahene, says government\u2019s refusal to implement other debt operations apart from the debt exchange programme could land the country in some very difficult situation. Ghana is inviting eligible holders to exchange GH\u20b5137.3 billion of the domestic notes and bonds, including Energy Sector Levy Act Plc and Daakye Trust Plc, for […]<\/p>\n","protected":false},"author":8,"featured_media":28213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[61,43,1],"tags":[5039,5673,6725,8857,8858,10505,5446,5494,192,2264,8029,3874,5612,11973,12727,2627,10214,8383,8856,6206,7858,7746,6348,3954,594],"class_list":["post-28205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-local-news","category-news","tag-bank-of-ghana-bog","tag-bond","tag-debt","tag-debt-exchange","tag-debt-restructuring","tag-die","tag-e-levy","tag-energy","tag-ghana","tag-government","tag-land","tag-lead","tag-money","tag-one","tag-package","tag-pm","tag-rates","tag-revenue","tag-richmond-atuahene","tag-taxes","tag-tell-me","tag-unemployment","tag-us","tag-will","tag-who"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/28205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=28205"}],"version-history":[{"count":1,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/28205\/revisions"}],"predecessor-version":[{"id":51233,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/28205\/revisions\/51233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/28213"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=28205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=28205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=28205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}