Debt Exchange: Bishop Agyinasare shares his bond haircut experience

Speaking during a sermon at this church, the bishop said that the economic meltdown in the country has gotten to the point where Ghana’s currency appears to be failing.

“Our money is failing, if it has not already failed. Because our banks cannot even pay people bonds – risk-free bonds,” he said.

The Bishop also stated that he has been a victim of the haircuts that Ghanaians who have invested in bonds are experiencing and went on to share his experience.

“I am going to give you my personal testimony. I have an instrument with a certain financial institution, with a bank and I have raised this investment to GH¢106,000. And I said I am taking my money.

“They said to me, there are going to pay me GH¢1,000 every week. That means that the GH¢106,000 will take me 106 weeks. And when I said they should do something about it they said it is because it is even you Archbishop. Because some people come to our bank and they weep.

“With the restructuring, we are doing, some people's monies will take 30 years to be paid,” he said.



IB/BOG