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Ghana Government bonds - "Don't push pensioners into early graves" - Placard reads
Wed, 15 Feb 2023Source: Philip NeeWhang
A Medical Retired doctor sobs - The worst mistake I ever made was to put all of my life savings into government bonds.
A news article published by the official account of Ghana's National broadcaster - GBC, details how pensioners have been sobbing to have voices heads with regard to government bonds and their initial plans for investing in it.
In an article published on GBC Ghana Online , Franklin ASARE-DONKOH throws light on some of the challenges pensioners have been facing and some of the voices that need to be heard.
His publications points to Dr. Samuel Quaye, a retired physician, said he now regrets using his life's resources to purchase Ghanaian government bonds. He emphasized, "Investing my life money in gov't bonds is my worst regret in life. On Monday, February 13, 2023, Dr. Quaye expressed his annoyance in an interview with Accra-based Joy FM. He claims that his health is now failing and that he needs money immediately to get the medical care he needs.
He bought government bonds to earn extra money to pay for the medical assistance he would require once his principle and interest payments on the bonds matured. Dr. Quaye claims that the Ghanaian government's decision to launch a Domestic Debt Exchange Program has crushed his aspirations (DDEP).
“I made a big mistake buying bonds. I am regretting it. I know I had no alternative then, because for such an amount I couldn’t keep it in my house. That is why I invested it. We are living in a world where you cannot save your money at home. But now, I think I should have invested my money outside the country,” he added.
The government's continued DDEP will have an impact on thousands of individual pension bond holders, including the retired doctor. But as the country keeps crying to the government to "Fix the country" - the one question we are asking is, should pensioners be pushed to their early graves in order to fix the country? is this our best solution to economic recovery?
“I made a big mistake buying bonds. I am regretting it."
A retired Medical Doctor, Dr. Samuel Quaye, says he regrets investing his lifetime savings in the Ghana government’s bonds.
