The Founding President and CEO of IMANI Centre for Policy and Education, Franklin Cudjoe has criticized the government for the economic challenges facing Ghanaians.
Cudjoe specifically blames the government for misleading citizens into participating in the Domestic Debt Exchange Program (DDEP).
The DDEP was presented as a voluntary initiative aimed at protecting domestic bondholders.
It involved restructuring the country’s domestic debt by swapping existing high-coupon bonds for new bonds with lower coupon rates and longer tenures.
However, this led to a loss of value for existing bondholders who exchanged their higher-yielding bonds for lower-yielding ones.
Cudjoe alleges that the government’s promotion of the DDEP was deceptive, and he accused them of exploiting the trust of Ghanaians to serve their own interests at the expense of citizens’ savings.
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