Speaking during his SONA, the President called on bondholders to be calm because this government would honor all obligations and everyone will be paid in full.
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“Bondholders can rest assured that they will be paid up to the last pesewa,” Mahama said.
The debt exchange program which was introduced by the NPP government after borrowing so much they began to default on their debts, was an IMF conditionality to access a $3m facility.
The deeply unpopular program saw many bondholders losing their investments and others being presented with patently unfair terms that they had no choice but to sign up to.
One particular victim, Michael Blackson, has constantly cried out about how the previous government cheated him and took his money, losing over $1m.
Seeking to assure such dissatisfied investors, President Mahama said his government would honor all obligations.
He said the NDC will work hard to restore investor confidence in Ghana and one key factor in that would be to introduce more business friendly measures in contrast to some policies of the past government.
Mahama touched on the oil sector as one sector destroyed by the NPP’s recklessness and said his government would restore it back to its glory and promised the people of Sekondi-Takoradi that prosperity is on the way back for them.
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