Domestic Debt Exchange: Pensions exempted

Finance Minister Ken Ofori-Atta

Pensions will be exempted under government’s Domestic Debt Exchange (DDE) Programme.

“Government has decided to grant exemption to all pension funds in the DDE,” an MoU signed by the Minister for Labour Relations, Ignatius Baffour Awuah, dated Thursday, 22 December 2022, disclosed.

The exemption of pension funds under the programme follows a meeting between the Government of Ghana (GoG) represented by the Ministry of Finance, Ministry of National Security and the Ministry of Employment and Labour Relations, on one hand and Organised Labour/Associations, on the other hand, represented by the leaders of all labour unions/associations.

Government and Organised Labour shall “however work together to explore mutually beneficial options within the debt sustainablility limits and to also promote macroeconmic stability and economic recovery in the spirit of social partnership,” the statement added.

Organised Labour due to government’s refusal to exempt pension funds from the Debt Exchange Programme, had served notice of a nationwide strike from next week.

The stipulated date for the strike is Tuesday, 27 December 2022.

The Secretary-General of Organised Labour, Dr Anthony Yaw Baah, made this known at a press briefing on Monday, 19 December 2022.

He said the strike has been occasioned by the government’s decision to introduce a debt exchange programme.

According to him, the strike will be in force until the government exempts pension funds from the planned debt exchange programme.

“We are asking the government to exempt us from the debt exchange programme.

“We have already told the world that if the government doesn’t do that, we will advise ourselves.

“Today, we are here to announce the advice. The advice is very simple.

“We have all agreed that because the government has refused to grant our request, we have decided firmly that all workers of Ghana are going to strike on December 27, 2022, and we will be on strike until our demands are met,” Dr Yaw Baah vehemently noted.