0
0
Debt Exchange: Bright Simons finds Ghana’s “take it or leave it” policy to be particularly unique.
He claims that in order to reach an agreement, nations and institutions that have undertaken debt restructuring have consulted investors and creditors.
However, in the instance of Ghana, the proposed initiative has faced strong opposition because, according to stakeholders, they weren’t consulted.
The Ghana Chamber of Trustees, the Ghana Medical Association, and the Trades Union Congress were among the organisations and unions that strongly opposed the initiative.
On December 9, 2022, Bright Simons tweeted, “1 week after presenting creditors with a proposal to restructure Ghana’s debt, the government is facing rejection by those who hold about 70% of the debt:
1. funds and securities dealers
2. individual banks.
3. insurance programmes
4. pension plans
5. Investing by non-residents
10 days before the deadline
