Banking Consultant, Dr Richmond Atuahene, has joined calls for the government to consult institutional bondholders whose funds will be affected by the debt restructuring measures announced by Finance Minister, Ken Ofori-Atta.
According to him, the government’s current posture, asking investors to take what is available in the debt restructuring exercise or forfeit the interest is not encouraging.
Dr Atuahene rather advised the government to engage stakeholders affected in the exercise to reach an agreement.
He warned that the government must be mindful of sending negative feedback to investors– a situation that could dampen confidence.
“We are in a very critical situation and I believe it is not too late. Government should get back and consult very well. Consultation matters,” he said.
Dr Atuahene argued that there were good investors and pension fund holders who may compromise to meet the government halfway.
“There are good people who will understand the situation. However, the way it is, (government posture) it is as if the government has a jacket and saying take it or leave it. If you have my money and say take it or leave it, then it means I should go and die”.
He maintained that such utterances and postures do not build confidence among the institutional bondholders since they (investors) did not contribute to the current situation.