Pensioners must be exempted from DDEP at all cost – Economist

An economist at the University of Ghana, Peter Quartey, has vehemently rejected the Finance Minister’s decision to include the funds of pensioners in the domestic debt exchange programme.

Mr. Quartey is worried that the prolonged maturity period of bonds under the programme has a likelihood to affect this aged population and they must therefore be exempted to help improve their standards of living and cater to their needs.

Pensioners have been picketing at the Ministry of Finance since Monday, February 6, demanding and protesting to be excluded from the programme.

Mr. Quartey argued that these pensioners depend on their dividends from Government of Ghana bonds to cater for their expenses, largely medications which when included in the debt exchange programme will likely worsen their health well-being.

“Pensioners should be exempted because that is what they depend on for their medications. It is not morally accepted and we should listen to what the pensioners are saying. For pensioners, I am sorry to say that we must exempt them.”

He intimated that it is not morally right to dip into the funds of people who have served the nation and are supposed to be enjoying their retirement.

He added that the government should have at least been considerate and made it optional for pensioners to sign onto the programme.

“If they say they can wait till fifteen years for the bonds to mature, then there is no problem but these are people who are old and may suffer any illness or fate at any time.”

He further stressed that former Chief Justice Sophia Akuffo’s decision to join the pensioners picketing at the Finance Ministry indicate the sentiments of pensioners which the government must listen to and immediately exempt pensioners from the debt exchange programme.