Senyo Hosi, the former CEO of the Ghana Chamber of Bulk Oil Distributors, is warning officials in the New Patriotic Party (NPP) administration not to mislead Ghanaians about the debt swap program.
When discussing the debt exchange deadline, which is due on January 16th, Mr. Hosi specifically warned Gabby Otchere-Darko, a stalwart of the NPP, on JoyNews's The Probe on Sunday.
He said, “I see Gabby has put something out, he should stop misinforming people. When you are not at risk, you speak anyhow. You should think about the same people who went out there, queued to vote for you so that you can enjoy the power that you have. So be sensitive with your speech.”
Senyo Hosi's warning to Mr. Darko was in response to a string of tweets Mr. Otchere-Darko had earlier on Sunday, in which he claimed that the nation was in a tough situation.
Since of this, the NPP stalwart asked private bondholders in a tweet to negotiate with the government and accept the debt swap program because doing otherwise would be deadly for the nation's economy.
“If the no-compromise opposition to it wins, what then has been achieved? It may lead to national debt default. So what then happens to the value of your bonds after! Potentially worthless. If participation is low, we jeopardize resolving the economic crisis and hardships”, he wrote.
However, Mr. Hosi is unhappy with the tweets, since he claims that the prominent NPP figure is not being truthful about the severe consequences that would befall Ghanaians if the debt exchange program is approved.
He continued by saying that in his view, the government's choice to implement the debt swap program was unnecessary because it was not required by the IMF.
“The Finance Minister has said that he needs 80% compliance. This entire mix will just take you around somewhere ten or eleven percent. So you still have ninety percent, within which you can’t get your eighty percent. So why do you go direct and hit individuals instantly?” he asked.
Therefore, Mr. Senyo Hosi urged the current administration to show consideration for the populace.
“Policy space is for serving, but not for lording. And that should not be lost on any of them up there,” he advised.
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