Dr. Matthew Opoku Prempeh, the vice-presidential candidate of the New Patriotic Party (NPP), has issued a public apology to bondholders who were adversely affected by the government’s Domestic Debt Exchange Programme (DDEP). Speaking during an interview on Accra-based Peace FM on October 16, Dr. Opoku Prempeh acknowledged the sacrifices made by bondholders, which played a crucial role in stabilizing Ghana’s economy during a difficult period.
In his remarks, he expressed deep gratitude to the bondholders for their contributions, noting that their participation in the DDEP was instrumental in helping the government restructure the nation’s debt. This restructuring was vital, particularly in negotiations with the International Monetary Fund (IMF) and foreign bondholders.
Dr. Opoku Prempeh highlighted the importance of the bondholders’ involvement in facilitating the country’s financial recovery. He noted that the DDEP was a necessary step to tackle Ghana’s mounting economic challenges, and the bondholders’ willingness to accept the terms of the programme helped ensure the nation’s path toward financial stability.
He further emphasized that the actions of the bondholders were not only beneficial to the government but to all Ghanaians, as their sacrifices enabled the country to avoid deeper financial crises.
“What we have to know is that if we hadn’t met the DDEP bondholders, our economy that has now picked up wouldn’t have been possible,” Dr. Opoku Prempeh explained.
He added, “If they hadn’t agreed for us to exchange their 95% bonds, we couldn’t have gone through the restructuring process with the IMF, and the foreign bondholders would have not followed for us to achieve this result.”
Dr. Opoku Prempeh also recognized that bondholders understood the hardships facing the average Ghanaian, which compelled them to support the nation’s economy. “They saw that the average Ghanaian has suffered, so they felt compelled to support Ghana’s economy,” he said.
Looking forward, he emphasized the importance of ongoing dialogue with stakeholders to address their concerns and ensure that such sacrifices are acknowledged and rewarded in the future.
