Director of Communications for the New Patriotic Party (NPP), Richard Ahiagbah says the reason for the rejection of the debt restructuring programme is due to the difficulties it will pose for bondholders.
Mr. Ahiagbah stated that the fear of the bondholders is also attributable to their inadequate understanding of the debt restructuring programme.
Speaking on Newsfile on Saturday, the politician said, “The basis for that rejection (of the debt restructuring programme) is a question of lack of understanding and the genuine fear that where are we going?”
However, Mr. Ahiagbah explained that the prevailing economic crisis has put the Akuffo-Addo-led administration in a situation where they have to take certain decisions to revive the economy.
He indicated that one of those actions is the debt restructuring programme.
The NPP spokesperson noted that if the government could secure the necessary cooperation from various institutional investors to tout the benefits of the programme, the country could pay off all of its debt.
“If we have the level of participation, if we get the support and the voluntary participation of all these institutional investors to drive this forward, we are likely to redeem our country from this debt trap that we have caught ourselves in,” he told host, Samson Lardy Anyenini.
Mr. Ahiagbah also indicated that the government’s aim in introducing the debt restructuring programme is to build a robust economy.
“It’s not a thing to do just now to get out of it, and then reverse back there, but we are going to leverage the occasion to build ourselves sustainably to a place where we will not get to this place again,” he assured.