An economics lecturer at the University of Ghana, Dr Patrick Asuming, has stated that the government’s failure to honour its obligations is destroying the public’s trust in it.
He urged government to fulfill its assurances to Bondholders in order to stop the social trust from fading out completely.
“Government really needs to have a sconed thought about its strategy. Government is really destroying social capital and social trust that is important to implement the IMF programme.
“Government will need to have discussions with Ghanaians and make a commitment and people will expect that for a short term, they are going to endure this and some relief will come. So if you start on this note where the government does not meet its obligations it creates problems,” he said on Accra-based TV3.
His comments follow threats made by Individual Bondholders to picket at the Finance Ministry on Monday, July 11 to demand the payment of outstanding principals and coupons.
The planned picketing was suspended following an announcement by the Finance Ministry that the arrears on coupons and principals have been paid.