Your sacrifices made this possible- NAPO to Bondholders on DDEP impacts

Dr. Matthew Opoku Prempeh, the Vice Presidential candidate for the New Patriotic Party (NPP), recently shared his gratitude towards bondholders who participated in the government’s Domestic Debt Exchange Programme (DDEP) during an interview on Peace FM monitored by MyNewsGH.com

His remarks highlighted the crucial role these bondholders played in stabilizing Ghana’s economy, which is showing signs of recovery.

Known famously as NAPO, he stated, “What we have to know is that if we hadn’t met the DDEP bondholders, our economy that has now picked up wouldn’t have been possible.” His emphasis on the bondholders’ cooperation underlines how their agreement to exchange their 95% bonds was vital for the country’s financial restructuring, particularly in navigating the challenges posed by the International Monetary Fund (IMF).

Prempeh also expressed empathy for the bondholders, acknowledging the sacrifices they made, especially given the economic distress many Ghanaians faced. He mentioned, “They saw that the average Ghanaian has suffered, so they felt compelled to support Ghana’s economy.” This acknowledgement serves to humanize the often impersonal financial decisions and reminds listeners of the real-world impacts these policies have on citizens.

The DDEP was a response to significant economic challenges in Ghana, which included rising debt levels and inflation.

The program aimed to restructure domestic debt to ensure fiscal stability and to secure financial assistance from the IMF. However, this strategy was met with criticism, as many bondholders faced financial losses that affected their livelihoods.

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