The vice-presidential candidate for the New Patriotic Party (NPP), Dr. Matthew Opoku Prempeh, has issued a formal apology to bondholders affected by the government’s Domestic Debt Exchange Programme (DDEP).
In an interview on Accra-based Peace FM on October 16, he acknowledged the significant sacrifices bondholders made to support the stabilization of Ghana’s economy during a difficult time.
Dr. Opoku Prempeh expressed heartfelt appreciation to the bondholders, emphasizing their crucial role in the nation’s economic recovery efforts. He noted that their cooperation in the DDEP was instrumental in helping the government restructure its debt, especially in negotiations with the International Monetary Fund (IMF) and foreign creditors.
He further explained that the DDEP was a necessary measure to address Ghana’s pressing economic challenges, and bondholders’ acceptance of the programme’s terms played a critical role in restoring financial stability for the benefit of both the government and citizens.
Dr. Opoku Prempeh stressed the importance of maintaining open communication with stakeholders to ensure their concerns are addressed as the country moves forward.
“What we have to know is that if we hadn’t met the DDEP bondholders, our economy that has now picked up wouldn’t have been possible.”
“If they hadn’t agreed for us to exchange their 95% bonds, we couldn’t have gone through the restructuring process with the IMF, and the foreign bondholders would have not followed for us to achieve this result.”
“They saw that the average Ghanaian has suffered, so they felt compelled to support Ghana’s economy,” he said.