Organized Labor has informed the government that it will evaluate the "superior" Domestic Debt Exchange Programme proposed on Thursday, June 1.
Dr. Anthony Yaw Baah, spokesman for Organized Labour, stated that the new offer seems "very clear" but that more information is required before a decision can be made.
In the presence of the Minister of Employment and Labour Relations, Ignatius Baffour Awuah, the government, led by the Ministry of Finance and represented by Minister of State Dr Mohammed Amin Adam, made a presentation to Labour.
Dr. Yaw Baah, who is also the Secretary General of the Ghana Trades Union Congress (TUC), insisted to Media General's Daniel Opoku, following the presentation on Thursday, June 1, that despite the session's cordial tone, Labour's team of experts would need to investigate certain technical details.
"They are attempting to present something that is superior to what we rejected, but I cannot explain the technical details," he acknowledged.
Government is transforming economy beyond aid; congratulations on your sacrifices - Workers were told, "That is why we have assembled our technical team to examine it for us."
According to him, the government explained that the previous proposal, which was rejected by Organized Labour, has been revised, and the acceptance of the new proposal, which includes new proposals for principals and interest rates, would allow the nation to return to the bond market.
"We thanked them and assured them that we would consider the offer, so we are currently working on it, but we require additional information pertaining to the 'Exchange Memorandum' that was not presented."
He stated that the new offer is more comprehensible, but "at this time we have not decided whether we will encourage our pension funds to participate in the new deal or accept the offer."
"We need more information about it."
Following reports that the Ministry of Finance had written to the Board of Trustees of Pension Funds for participation in the new debt restructuring program, Organised Labour met on Thursday, April 20 to discuss the new offer.
Lord Mensah instructs the government during a budget review to offer tax incentives to Ghanaians.
Then, it was stated that this was one of the International Monetary Fund (IMF) programme's conditions.