DDEP: You can’t use the vulnerable to solve your problems – Prof. Gatsi to government

Economist and Dean of the University of Cape Coast School of Business, Professor John Gatsi has called out the government over its failure to protect the vulnerable in the country.

This comes on the back of calls made by the pensioner bondholders forum for them to be exempted from the government’s domestic debt exchange program, falling on deaf ears.

Though the government says it has modified terms of the exchange reducing maturity dates from 15 to 5 years, Professor Gatsi insists that pensioners must be exempted from the program.

“The pensioners ought to be exempted from the DDEP. They (government) should work with those who have already signed onto the program”, he said to GHOneTV’s Emmanuel Agyabeng.

Professor Gatsi explained that “If you read the 1992 constitution, there is a demand on the managers of the economy to protect the aged, to protect the disabled, to protect the vulnerable. I don’t see why you (government) will want to use the vulnerable to solve your problems. It doesn’t make sense. That shows some form of callousness”

The Pensioner Bondholders’ Forum have been advocating their total exemption from the program for weeks now and on Friday, 10th February 2023, they had to extend their continuous picketing at the finance ministry to today, Monday, February 13, 2023 as a meeting held with the Finance Minister, Ken Ofori-Atta ended inconclusively.

The government insists the retirees should consider voluntary exemption but they disagreed as they want total exemption from the Domestic Debt Exchange Program.

Former Chief Justice, Sophia Akuffo who was captured among the group of retirees picketing at the finance ministry on Friday, 10th February, 2023 chided the Finance Minister, Ken Ofori Atta and the state for not sacrificing enough to warrant them to give off their investments to the DDEP.

“He should show us his sacrifice and the state’s sacrifice. I don’t think anyone has the right to demand sacrifice from anybody – We are to go willingly. I haven’t seen any sacrifice to merit my sacrifice or to encourage anybody to make this sacrifice”, the former CJ said.

“When you go for a loan, you should have planned how you are going to pay for that loan. You shouldn’t enjoy being in debt. Those who go a borrowing , go a harrowing and I am not going to join that sorrowing” , she continued.

Meanwhile, Ken Ofori Atta is expected at the law making chamber on Thursday, February 16, 2023 following a directive from Speaker of Parliament, Alban Sumana Kingsford Bagbin, for him to put the details of the domestic debt exchange programme before the House for consideration.