The caucus has written to the Speaker of the House requesting that Ken Ofori-Atta, the minister of finance, present the complete government’s proposed debt restructuring plan for debate.
The minority has resisted the government’s debt exchange scheme, which aims to lower the country’s debt to levels that are more manageable, ever since the administration unveiled the debt restructuring program.
As part of ongoing discussions with the International Monetary (IMF) Fund to get $3 billion in economic support for Ghana, the government exchanged current bonds for new ones with a more flexible interest payment schedule.
The domestic debt exchange scheme was put in place by the government to buy itself more time to pay its debts after an economic slump and challenges servicing its debt.
Since it was announced, the scheme has encountered fierce resistance from both groups and people.
The government issued a catastrophic economic collapse warning in the absence of the debt swap program.
Ghana is currently asking the IMF for a $3 billion bailout to support the faltering national economy.
One of the prerequisites is the local debt restructuring plan before the board of the Bretton Woods institution would consider Ghana’s request.
