Saturday , 28 January 2023

I will support victims of debt exchange programme to sue government – Adongo 

The Deputy Ranking Member on the Finance Committee of Parliament says he is prepared to support investors and bondholders who want to sue the government over the debt exchange programme. 

Mr. Isaac Adongo said he and his team are fully prepared for this. 

The Bolgatanga Central MP said the government must not be allowed to succeed with the “illegality.”

“My team and I are ready to support any group of investors and bondholders who agree to come together for a class action to sue the Minister of Finance and the government to reverse this decision,” he said in a JoyNews interview. 

The outspoken lawmaker said bonds are agreements and one party cannot vary its terms without the other. 

“When you issue a bond, it is an agreement. You advertise a prospectus which becomes the agreement, and you are bound by those agreements to respect them. 

You cannot unilaterally sit in your office and shred them and illegally and arrogantly compel people to accept what you want.

The Minority in Parliament has also vowed to summon the Finance Minister, Ken Ofori-Atta to answer some key questions regarding government’s debt exchange programme.

According to the group, Parliament was not briefed on the programme.

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