Ghanaian-American comedian, Michael Blackson has made a shocking revelation about how a cousin of former President Akufo-Addo demanded a 10% bribe to help him recover his $1.2 million investment trapped in Ghana’s domestic debt exchange programme (DDEP).
Speaking on VladTV, Blackson detailed how his funds, originally intended to support philanthropic projects, were locked when the government announced its debt restructuring programme.
“I had money in Eurobonds because I wanted a stable currency, but when Ghana’s debt crisis hit, they stopped payments,” he said. “Then someone in the government said he could get my money back, but he needed 10%. I refused.”
The comedian said he chose to fight for his money instead of paying a bribe, believing that as long as the funds remained unpaid, he could continue advocating for their release.
“This money was supposed to fund free education. I’m doing the government’s job by using my money to build schools, and yet this happens,” he said.
Blackson expressed disappointment in how the erstwhile Akufo-Addo administration handled the DDEP situation. According to him, the government used monies expected to be paid to investors to settle external debts.
Blackson added that he was given two options: accept an immediate 37% loss with lower interest rates or wait 15 years to get his full investment back but with significantly reduced returns.
Despite his grievances, Blackson does not blame Ghana, but blames the erstwhile NPP government for the financial losses suffered by investors.
“I love Ghana. It’s a great country with great people. My issue is with those in office at that time,” he said.
Blackson’s revelations add to the growing concerns among investors who suffered losses under Ghana’s debt restructuring programme. Many have called for government intervention to address their grievances.
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