Government will not cut retirement savings, says Ofori-Atta
Speaking at the launch of the domestic debt exchange programme on Monday (5 December), Ofori-Atta said government has instituted measures to alleviate the impact of the programme on investors
Finance Minister Ken Ofori-Atta has assured that the government will not cut retirement savings or notional value of investment as part of its domestic debt exchange programme.
Speaking at the launch of the domestic debt exchange programme on Monday (5 December), Ofori-Atta said the government has instituted measures to alleviate the impact of the programme on investors.
“The government has been working hard to minimise the impact of the domestic debt exchange on investors holding government bonds.
“In particular, it does not imbed any principal haircut on eligible bonds as we promised, let me repeat this fact as plainly as I can; in this debt exchange, individuals holding domestic bonds will not lose but the value of their investment will be retained.”
“Let us remove any doubt and discard any speculation that the government is about to cut your retirement savings or the notional value of your investment,” Ofori-Atta said.
Listen to Ken Ofori-Atta in the attached audio clip below:
Watch the full briefing in the attached video below:
Fred Dzakpata
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