Former Chief Justice Sophia Akuffo has hit back at Gabby Otchere-Darko for his comments against the protest by pensioners following their inclusion in the domestic debt exchange programme.
Speaking to journalists after joining pensioners to picket at the Finance Ministry again on Tuesday, February 14, she said “Is he a member of the government? He doesn’t decide for me what I need to do and what I do not need to do. It is as simple as that. I don’t have time for things like that, people like that are not important to me or to my life. He is a disturbance.”
Gabby had said that for Madam Sophia Akuffo to take up a noble cause such as picketing against the inclusion of pensioners in the debt exchange programme but at a such late hour when all was done and for all that publicity, she owed it to herself and her social standing to have understood the issues far better than what she exhibited.
Mr Otchere-Darko said Madam Sophia Akuffo was bigger than what she did.
Ms Sophia Akuffo first joined the group of pensioners to picket at the Finance Ministry on Friday, February 10 against their inclusion in the debt exchange.
Speaking to journalists she said “These are all people who have worked, they have worked very hard, they could have left the country when others were going but they stayed, they worked for the nation.
“We have had our ups and downs. A lot of us were from generations where we were encouraged to save for tomorrow and all that. We have been through times where all your savings become nonsense because of some government policies, then over the years, bit by bit, people have become more confident in the economy and investments.
“Quite a number of people here today, when they retired last two years they have put everything into government bonds, it is a contract and now all of a sudden, you virtually want to, at gunpoint, force them to agree with you that the repayment of the yield of their investment should be as you dictate it. Why?”
She further criticized the government for not being able to account for the borrowings done over the years.
“Why are we in the mess? Nobody has fully explained to us, yes we took debt, what was it used for? and where is the accountability? Exactly what was it used for? You are not telling us about how you are going to be able to make things better but just that ‘help me and I help you’, no, you help yourself first, let me see you doing something serious because we have seen these sort of things too many times.
“I am over 70 years now, I am no longer government employed, my mouth has been ungagged and I am talking and I am saying that we have failed and it is important that the elderly should be respected. I find this wicked, I find it disrespectful, I find it unlawful, I find it totally wrong.”
The pensioners have been picketing at the Ministry since Monday, February 6 to be exempted from the Programme.
But in a series of tweets, Mr Otchere-Darko reacted to the picketing saying “As an individual bondholder myself I wish to join the others in thank ling those like Senyo Hosi, Gayheart Mensah and co, who volunteered to lead the advocacy resulting in a far better offer for individual bondholders (particularly pensioners) than the original offer. Ayekoo!
“Whiles I have sympathies for those picketing, I think we should be bold enough to ask them what really is the purpose? Why picket over an offer which you have the liberty not to accept? You are asking to be exempted but from an improved offer programme which is voluntary!
“The former Chief Justice, Sophia Akuffo, may mean well but she erred big time in her basic appreciation of the issues. Rather than asking the Govt for exemption at this late hour, why did she simply not ‘exempt’ herself from exchanging her original bond for the new one!
“Why picket over something you don’t like (the improved offer) when you have the right not to sign up? Sorry, but I struggle to get her emotional outburst over-exemption! I hope she won’t volunteer to picket tomorrow and on the same issues when the time to sign up has expired.
“I was among those who pleaded for the exemption of pensioners. But, the Govt had to balance all that with the need to protect the economy for the 33m population and settled on the 15% yield maturing in 5yrs instead of 15, and that the individual was FREE not to participate.
“For a former CJ to take up a noble cause such as she did but at such late hour when all was done and for all that publicity, she owed it to herself and her social standing to have understood the issues far better than what she exhibited last Friday. She is bigger than that.”
The Minister of Finance, Ken Ofori-Atta, had targeted over 80 percent participation amid agitations among individual bondholders and some Senior Citizens, who sought exemption from the Programme.
“The Government’s Domestic Debt Exchange Programme (DDEP) closed on Friday 10th February 2023 with over 80% participation of eligible bonds,” a statement issued by the Ministry of Finance on Tuesday, February 14 said.
“The Government wants to thank the people of Ghana for their forbearance and support throughout these very difficult times.”
It said by the participation of the voluntary bondholders after the closure of the Programme on Friday, the country has inched closer towards securing the $3billion extended credit facility (ECF) from the International Monetary Fund (IMF).
“The DDEP is being done to help protect the economy and enhance our capacity to service our public debts effectively.
“The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis.
“The Government is, therefore, grateful for the overwhelming participation of all bondholders.
“Your support and contribution has gotten your country much closer to securing the IMF programme.”
It asked individual bondholders, particularly pensioners, who did not participate in the Programme, to be rest assured that their coupon payments and maturing principals will be honoured in line with laid-down rules.
By Laud Nartey|3news.com|Ghana