Legal Counsel for the Individual Bondholders, Martin Kpebu has described the 72 hours announcement by the Finance Minister, Ken Ofori Atta for individual bondholders to complete their bond process as a slap in the faces of investors.
According him, the extension is an attempt by government to woo individual bondholders who are not willing to sign onto the program to do so.
“Government is looking for an avenue further to woo our members and I think that is an abuse of office. That is not the right way to go at all.
Individual bondholders have been very open about the fact that they don’t want to participate in this program, and so we are saying that government is mainly interested in doing whatever it tends to get these individual bondholders on board,” He resorted.
Mr. Kpebu advised the government to consider cutting expenditures instead of adding and appointing ministers.
He also asserted that the individual bondholders remain resolute in signing up for the program.
Mr. Kpebu however, blamed the country’s current economic crises on the doorstep of the government and linked it to reckless borrowings and bad governance.
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