Government’s announcement of the debt restructuring program has been met with varied reactions across the country.
The Minister of Finance, Ken Ofori Atta announced on Monday, December 5 when he officially launched Ghana’s debt exchange program.
The program is to alleviate the debt burden in the country in a transparent and efficient manner.
According to Mr. Ofori Atta, well targeted regulatory measures and the creation of a Financial Stability Fund (FSF),banks, pension funds, insurance companies, fund managers and collective investment schemes would be supported to meet obligations to client’s.
However, residents on the Sekondi-Takoradi Metropolis in an interview expressed dissatisfaction with the measures taken by government finance team while some maintain it is better to withdraw their savings from banks to avoid future uncertainties.
Auntie Kukua, a business woman said, since the announcement of the program, she has withdrew all her monies from the bank based on the Finance Minister’s explanation of the program.
” I just withdrew all my monies from the bank after the controversies surrounding the policy and after hearing what the Finance Minister said, I realised it is better to withdraw the money”
Another resident said, the monies deposited at the banks would lose it value and that will have a serious repercussion of people’s fund.
-Beach Newsroom-
