In Ghana, the Agbogbomefia of the Asogli State, Togbe Afede XIV has supported the position of individual bondholders who are crying for an exclusion from the Domestic Debt Exchange programme. According to him, the Individual Bondholders Forum’s (IBF) proposal of some fiscal measures to help government save ¢83.5 billion is in the right direction.
The revered Togbe Afede XIV has backed this move expressing the belief that cutting costs to some expenditure projects will help save revenue for the economy.
He further explained, “There is so much room, I believe, for cutting expenditure. And that is where I think we should be looking at first of all”.
He added his voice when the Individual Bondholders’ Forum led by convener, Senyo Hosi, petitioned him in his office on Thursday, January 26, 2023.
During the courtesy call, Senyo Hosi explained that “Togbe the matter is an eye red matter and for someone who has led the capital market and being one of the players who birthed the capital market, besides your royal place as the Agbogbomefia of the Asogli State, you are a pioneer in this industry, I do not want to believe this is your voice and the destination you assured us when your voice was heard back then”.
“So we are here to petition your office, to petition you as an individual and the state of Asogli not to sit by and watch the lives of 6.5 million people devastated and subjected to shackles of penury. So our plea here is very simple, the steps being taken by the government are unsustainable and very unnecessary.”
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: Togbe Afede Calls for the Exclusion of Individual Bondholders from Domestic Debt Exchange){kind=link}
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