Information Minister, Kojo Oppong Nkrumah has explained that President Akufo-Addo’s assurance of no ‘haircuts’ with investments in bonds will cover just the principals.
The Minister disclosed this on Asempa FM’s Ekosii Sen following President Akufo-Addo‘s address on Sunday.
The Ofoase-Ayirebi MP however assured there will be in-depth explanation and clarity when the policy is fully rolled out.
“The debt sustainability strategy is yet to be announced in full. When they are done with the rest of the strategy, and they come out and do a full announcement, we will have clarity on the form that the debt restructuring will take,” he stated.
The President allayed fears that contrary to speculations, there will be “no haircuts” on investments.
“I also want to assure all Ghanaians that no individual or institutional investor, including pension funds, in Government treasury bills or instruments will lose their money, as a result of our ongoing IMF negotiations.
“There will be no “haircuts”, so I urge all of you to ignore the false rumours, just as, in the banking sector clean-up, government ensured that the 4.6 million depositors affected by the exercise did not lose their deposit,” he said.
Akufo-Addo assured adequate steps will be taken to protect the investment of citizens as the government continues its negotiations with the International Monetary Fund (IMF).