President Nana Addo Dankwa Akufo-Addo has assured that no Ghanaian or institutional investor, including pension funds in the government treasury bills or instruments, will lose their investments, as his government seeks an IMF program.
Some public sector workers are of the fear that their pension Funds in Government treasury bills and instrument would be affected by the government’s negotiations with the IMF.
The country is faced with fiscal and debt unsustainability challenges, heightening concerns in the investment community.
But in his address to the nation last Sunday, after a Cabinet Retreat at Peduase Lodge on how his government intends to resolve the prevailing economic crisis in the country, President Akufo Addo assured no one will lose their investments. “Just as in the banking sector clean-up, the government would ensure that no one, including pension funds losses their investments.” he said.
An anonymous two-minute audio message on a WhatsApp platform predicting a so-called haircut on the government bonds sent all of us into banks and forex bureaus to dump our cedis, and, before we knew it, the cedi had depreciated further.
But the president insists that there would be no “haircuts”, and urged Ghanaians to ignore the false rumors instigating the fear among Ghanaians and the investor community that, they would lose their investments.
