Dr. Matthew Opoku Prempeh acknowledged the hardships faced by Ghanaians impacted by the Domestic Debt Exchange Programme (DDEP), emphasizing that the suffering of those affected is deeply concerning.
Speaking on Peace FM on October 16, Dr. Opoku Prempeh highlighted the frustrations of citizens who had invested their life savings into government bonds, expecting flexibility and reliability in accessing their funds.
During the interview, he painted a vivid picture of the toll the DDEP has taken, noting that many retirees and others who rely on these investments for financial security have faced abrupt limitations on their savings.
The situation has led even high-profile figures, like a retired Chief Justice, to protest—a clear indication that the issue goes beyond the financial aspect, touching on the emotional and psychological strain of uncertainty over one’s lifetime savings.
He explained that, due to DDEP, the government proposed a staggered repayment structure instead of immediate accessibility.
With coupon payments set to resume in 2024 and principal repayments starting as far out as 2026/2027, Dr. Prempeh underscored the urgency of finding a way to ease the burden for those who are financially strained. In his view, effective negotiation and clarity on repayment are necessary to address the distress many Ghanaians currently face due to the restructured debt approach.
