"Gov’t exempts pension funds from Debt Exchange Programme"

" Gov't exempts pension funds from Debt Exchange Programme \r\n\r\nInformation reaching norvanreports indicates that Government has agreed to exempt pension funds from its domestic debt exchange programme (DDEP).\r\n\r\nThe decision by government follows agitations and threats of mass industrial strikes by organised labour unions in the country.\r\n\r\nReports further indicate that the decision by government was reached during a crunch\u00a0 meeting between the Finance Chief Ken Ofori-Atta and Organised Labour on Thursday, December 22, 2022.\r\n\r\nDuring the crunch meeting, Finance Chief Ken Ofori-Atta gave utmost assurances that pensions of all workers will be exempted from the programme.\r\n\r\nThe DDEP, launched on Monday, December 5, 2022 and expected to take off next month, was announced as part of austerity measures to save the economy from collapsing.\r\n\r\nPer the programme, government is going to exchange over 60 existing bonds with four (4) new bonds that have maturity dates ranging from 2023 to 2037.\r\n\r\nReports of the inclusion of workers\u2019 pensions stirred agitations among workers, who gave government a 7-day ultimatum to exempt their contributions, most of which were lodged in government vaults.\r\n\r\nAfter the ultimatum elapsed, Organised Labour declared its intention to proceed on strike from Tuesday, December 27.\r\n\r\n \u201cWe are asking government to exempt us from the debt exchange programme,\u201d Secretary General of\u00a0Ghana Trades Union Congress\u00a0(TUC) Dr Anthony Yaw Baah told journalists at a press conference in Accra on Monday, December 19. \r\n\r\n \u201cWe have already told the world that if government doesn\u2019t do that, we will advise ourselves. Today, we are here to announce the advice. \r\n\r\n \u201cThe advice is very simple. We have all agreed that because the government has refused to grant our request, we have decided firmly that all workers of Ghana are going to strike on December 27, 2022, and we will be on strike until our demands are met.\u201d \r\n "

"Gov’t exempts pension funds from Debt Exchange Programme"

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