Today, Thursday, April 20, organized labor will convene to discuss the alternative offer for pension funds put up by the ministry of finance.
The Board of Trustees of Pension Funds reportedly received a letter from the Ministry requesting their involvement in the new debt restructuring scheme.
As agreed with in December in advance of the Domestic Debt Exchange Programme (DDEP), some labor unions have given notice that they will not take part in the program.
The University Teachers Association of Ghana (UTAG), for example, stated in a statement on Monday, April 17, "UTAG reiterates its earlier resolve on the Domestic Debt Exchange Programme contained in a communique with reference UTAG/NAT/2022/EM-012 and dated 7th December 2022 that we are still unable to participate in any intervention that would worsen the plight of the already impoverished Ghanaian University Lecturer."
Thomas Musah Tanko, the general secretary of GNAT, has likewise expressed a similar viewpoint.
Joshua Ansah, the Deputy Secretary General of the Ghana Trades Union Congress (TUC), has nevertheless demanded a comprehensive discussion on the subject.
The offer, according to the administration, is essential to prevent further economic collapse.
The idea is not a Domestic Debt Exchange Programme (DDEP), stressed Palgrave Boakye-Danquah, the government's spokesperson on governance and security, during an appearance on TV3's New Day on Wednesday, April 19.
This alternative option is being made, and I'm pleading with the holders of pension bonds to take me up on this offer.
According to experts, the action is one of the requirements set forth by the International Monetary Fund (IMF) before its Executive Board approves Ghana's request for an extended credit facility (ECF) in the amount of $3 billion.
At its meeting on Thursday, organized Labour is anticipated to make a decision regarding the new plan.