Debt Exchange: Stop misinforming the public – Senyo Hosi tells Gabby Otchere-Darko
Former Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi, is cautioning members of the ruling New Patriotic Party (NPP) government to stop spreading false information to Ghanaians about the debt exchange programme.
Mr Hosi’s warning was explicitly directed at an NPP stalwart, Gabby Otchere-Darko, while speaking on JoyNews’s The Probe on Sunday in a discussion on the debt exchange deadline, which is due on Monday, January 16.
He said, “I see Gabby has put something out, he should stop misinforming people. When you are not at risk, you speak anyhow. You should think about the same people who went out there, queued to vote for you so that you can enjoy the power that you have. So be sensitive with your speech.”
Senyo Hosi’s caution to Mr Darko stemmed from a series of tweets that were posted by Mr. Otchere-Darko earlier on Sunday, asserting that the country is in a difficult state.
For that reason, the NPP stalwart through his tweet urged individual bondholders to reason with the government, and accept the debt exchange programme, as rejecting it would bring fatal consequences to the economic state of the country.
“If the no-compromise opposition to it wins, what then has been achieved? It may lead to national debt default. So what then happens to the value of your bonds after! Potentially worthless. If participation is low, we jeopardize resolving the economic crisis and hardships”, he wrote.
However, Mr Hosi is displeased with the series of tweets as he disclosed that the leading member of the NPP is not being honest about the dire implications that would befall Ghanaians, should the debt exchange programme be accepted.
He further stated that in his opinion, the decision made by the government to implement the debt exchange programme is unnecessary as it is not a prerequisite by the IMF.
“The Finance Minister has said that he needs 80% compliance. This entire mix will just take you around somewhere ten or eleven percent. So you still have ninety percent, within which you can’t get your eighty percent. So why do you go direct and hit individuals instantly?” he asked.
Mr. Senyo Hosi therefore advised the ruling government to be considerate of the citizens.
“Policy space is for serving, but not for lording. And that should not be lost on any of them up there,” he advised.