According to him, Christians are also troubled by the debt exchange which poses danger to Ghanaians’ investments as some of them depend on interests on those investments for survival.
“Definitely. If members cannot get their coupons [and] cannot make ends meet, it will affect the tithing and also the offering. So it’s important that we fight for them so that we also get our share of the tithe,” Reverend Dr Cyril Fayose lamented.
The Government of Ghana launched the Domestic Debt Exchange programme, an invitation for the voluntary exchange of approximately GHS137 billion of the domestic notes and bonds of the Republic, including E.S.L.A. and Daakye bonds, for a package of New Bonds to be issued by the Republic.
However, the programme has sparked agitations among investors and other stakeholders who have rejected the invitation, especially because one of the terms of the programme is that the government will not pay interest on bonds this year.
Currently, the Finance Ministry and individual bondholders as well as other stakeholders in the investment space have formed a joint technical committee to iron out the disagreements and reach a compromise.