In his 2025 State of the Nation address, President John Dramani Mahama revealed an upgrade to one of the most controversial decisions made by the previous administration regarding the loan exchange program.
The President urged borrowers to remain calm during his SONA, stating that the government would fulfill all obligations and pay each and everyone in total.
” Lenders can rest assured that they will be paid up to the next pesewa,” Mahama said.
The NPP government instituted the debt exchange program as a condition for access to a$ 3 million facility after borrowing so much that they began to default on their debts.
Some bondholders lost their investments, and others received patently unfair conditions that they had no choice but to accept as part of the deeply unpopular system.
One specific target, Michael Blackson, has frequently cried out about how the previous state cheated him and took his wealth, losing over$ 1m.
Seeking to ensure like unsatisfied investors, President Mahama said his state would respect all obligations.
He stated that the NDC may work hard to resuscitate investor confidence in Ghana and that one of the most important steps would be to implement more business-friendly actions in comparison to some of the previous government’s guidelines.
Mahama referred to the oil market as one field that was destroyed by the NPP’s careless behavior and said his authorities would restore it to its former glory and promised the Sekondi-Takoradi people that prosperity is on the way up for them.
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