IMANI Africa president, Franklin Cudjoe, has called out government for what he describes as poor communication on its implementation of the Domestic Debt Exchange Programme (DDEP).
According to him, government has demonstrated a shambolic means of communication by way of failing to extensively consult and engage the relevant stakeholders of the programme.
Making his submission on Accra-based Citi TV’s Big Issue segment, Franklin Cudjoe said government has woefully failed in helping to articulate the need for respective bondholders to participate in the DDEP.
He further added the communication which followed the launch of the DDEP was poor and therefore resulted in agitations and protests against the debt restructuring exercise.
“When this whole thing started, obviously the communication plan was shambolic, but what was also important was, we didn’t have the opportunity to understand what exactly the government wanted to restructure, they were doing it in bits," he is quoted by citinewsroom.com.
“At some point, there was no communication about T-bills. I remember people were hesitant about T-bills because that was the last resort for the government more or less. Had we done a proper assessment and then brought everybody to the table, I don’t think we will be going around in circles as we speak now. It was quite clear that the communication around the 100 percent success of the domestic debt programme was a fluke,” Franklin Cudjoe added.
Touching on the government's plan to roll out a revised DDEP which could likely focus on pension funds, the IMANI Africa president said “It is imperative that we have a proper conversation again on how we want things to be done in this country.”
Meanwhile, various labour groups in the country have cautioned the government against embarking on a second debt restructuring exercise which could potentially affect their pension funds.
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Franklin Cudjoe, IMANI Africa president