DDEP: Sophia Akufo-Addo Joins Protesting Pensioners At MoF

Ghana’s former Chief Justice, Sophia Akuffo has joined some members of the Pensioner Bondholders picketing at the Ministry of Finance (MoF) to protest the inclusion of pensioners’ bonds in the Domestic Debt Exchange Programme (DDEP).

Today, February 10 marks the fifth day since the Pensioner Bondholders Forum began picketing at the Ministry with the former Chief Justice showing up as well.

Sophia Akuffo was the Chief Justice from 2017 to 2019.

Individual bonds were included in the government’s DDEP- a programme developed to bring Ghana’s debt to a sustainable level in order to earn an International Monetary Fund (IMF) bailout- when pension funds were excluded.

This was in spite of assurance from President Akufo-Addo and Finance Minister Ken Ofori Atta that individual bonds would not be touched.

Although the government has modified the programme in such a way that all retirees- including those retiring in 2023- will be offered instruments with a maximum maturity of 5 years at a 15% coupon rate, the pensioner bondholders say they want a total exclusion from the Programme.

Speaking to the Media, Sophia said the Programme is “disrespectful, wicked, unlawful and wrong”.

The 73-year-old said, “You don’t solve your problem by sacrificing your aged- That’s the last thing we should do especially when we don’t have services that are specially geared at the comfort and relief of the aged.

“The National Insurance system has virtually collapsed. The elderly are buying their medications at normal commercial prices and a lot of people have told me that they have timed the way they did their investment so that at least every month there is something for them to cover their medical bills.”

Today is day five of the picketing.

Source: opemsuo.com/Hajara Fuseini