Ignore promise of ‘ No Haircut’ on investments – Agbodza

Adaklu Member of Parliament, Kwame Agbodza has all stakeholders to ignore the promise of ‘ no Haircut’ on investments made by President Nana Addo Dankwa Akufo-Addo.

In his view, the biggest haircut is already happening in the form of drop in the value of  investments by at least 30%.

“Ignore Mr President’s promise of ‘ No HairCut’ on investments . The biggest haircut is already happening, the value of your cash and investments lost at least 30%, What can be worse than this..promising to stop what has already happened?” he tweeted.

His comments come at a time Information Minister Kojo Oppong Nkrumah on the President Kojo Oppong Nkrumah said the president’s assurance that there will be no haircuts covers on principals.

“My understanding is that no principals will be touched. No principals will have a haircut,” Mr. Nkrumah said.

“The debt sustainability strategy is yet to be announced in full.”

“When they are done with the rest of the strategy, and they come out and do a full announcement, we will have clarity on the form that the debt restructuring will take,” he said.

President Nana Addo Dankwa Akufo-Addo has assured that no investor will lose his or her money including pensions funds, government treasury bills or instruments if Ghana finally seals a deal with the International Monetary Fund (IMF).

Mr Akufo-Addo noted that some members of the public have concerns that they will lose their investments if the deal with the Fund is closed,

But delivering an address to the nation on Sunday October 30, Mr Akufo-Addo allayed the fears saying, just as customers’ deposits were saved during the banking sector clean up exercise, no one will lose money in this also.

He said “There will be no ‘haircuts’, so I urge all of you to ignore the false rumours, just as, in the banking sector clean-up, Government ensured that the 4.6 million depositors affected by the exercise did not lose their deposits.

“I also want to assure all Ghanaians that no individual or institutional investor, including pension funds, in Government treasury bills or instruments will lose their money, as a result of our ongoing IMF negotiations.”

By Laud Nartey|editors.3news.com|Ghana