The Ghana Registered Nurses and Midwives Association (GRNMA) has expressed displeasure over the government’s debt exchange programme.
The Association has described the programme as unfair with pensioners to suffer more.
In a statement, signed by the President of GRNMA, Perpetual Ofori Ampofo, they said denying pensioners access to their tier 3 funds after 5-15 years of waiting for maturity on their investments is unacceptable.
“The leadership of the Ghana Registered Nurses and Midwives Association (GRNMA) wishes to register its dismay and disappointment at the proposed debt exchange programme as announced by the Minister of Finance on December 5, 2022.
“It is unacceptable that a government that budgets 18% inflation in 2023 will consider zero interest for pension funds of poor, hardworking, law-abiding citizens within the same period,” portions of the statement read.
Government through the Finance Minister, Ken Ofori-Atta, on Monday launched the Debt Exchange Programme to reduce the country’s public debt.
The Minister explained the programme was a key requirement in the ongoing International Monetary Fund deal.
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Under the domestic bonds exchange programme, Mr Ofori-Atta, among other things, said domestic bondholders will be asked to exchange their instruments for new ones.
Existing domestic bonds as of 1st December 2022 will be exchanged for a set of four new bonds maturing in 2027, 2029, 2032 and 2037.
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