The National Communication Officer of the National Democratic Congress (NDC), Sammy Gyamfi, has said that the current difficulties Ghanaian bondholders are facing are worse than the Menzgold scam.

According to him, the Chief Executive Officer of Menzgold, Nana Appiah Mensah, a.k.a NAM1's decisions which affected Ghanaians are way better than those of the Minister for Finance, Ken Ofori-Atta.

Speaking in a Good Morning Ghana interview monitored by GhanaWeb, Sammy Gyamfi explained that the government closed down financial institutions, including Menzgold, because they could not pay their depositors, and now the government also cannot pay its creditors.

"…Menzgold is better than this government. The financial companies that you shut down, what was the reason? You shut them down because they were unable to pay their depositors. Today, you can’t pay your creditors, are you better them," he said.

"You (the government) have had far more brighter opportunities than many of these financial institutions. If they (the financial institutions) had that, they would not be in the situation they found themselves in, for which reason you collapse them," he added.

The NDC national communication officer also refuted the explanation by the government that it is having difficulties repaying the country’s debts because it is also servicing the debts of the previous government.

He said that every government Ghana has had in the 4th Republic serviced the debts of its predecessor, but none of these governments defaulted on repaying their debts like the current Nana Addo Dankwa Akufo-Addo government.

Watch the interview in the video below:





IB/SEA