Gabby Asare Otchere-Darko

A leading member of the ruling New Patriotic Party (NPP), Gabby Otchere-Darko, has asserted that Ghana is in a ‘very difficult place’ with regards to the state of the economy.

The NPP stalwart made this concession while urging individual bondholders to accept government’s domestic debt exchange programme.

According to him, looking at the country’s present economic crisis, it will be fatal for the bondholders to resist the terms of the proposed programme.

He, therefore, urged the bondholders to reason with government to collectively restore the economy.

“Ghana is in a very difficult place. What we are seeing with the mobilisation of agitation on individual bondholders poses a real and serious risk worse than what we witnessed when opposition to E-Levy succeeded in derailing an already shaky macroeconomic situation from 2021,” he tweeted on Sunday.

“The debt exchange programme is voluntary for individual bondholders but a very necessary evil for our economy.

“Its success is critical to restoring macroeconomic stability, securing an IMF programme. It hits those of us holding bonds very hard. A straight no to it is no solution,” portions of the tweet further stated.