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Ghana: Debt restructuring will not affect Tier 2 pension investments; disregard this propaganda – Gov’t

The Ministry of Finance has refuted claims that the government’s debt restructuring efforts will affect approximately 94% of Tier 2 pension contributions invested in government securities.

The government is currently conducting a debt sustainability analysis as part of the processes for obtaining IMF support, and there are concerns that investments in government securities may suffer as a result.

According to reports, the Debt Restructuring Program may affect approximately GH3.7 billion of the GH3.9 billion Tier 2 pension contributions held in government securities.

However, the Ministry of Finance has stated in a statement that such propaganda should be ignored.

These publications and social media advisories, according to the statement, are without merit and are intended to undermine trust in Ghana’s financial sector.

However, the Ministry has assured that the Government’s engagements with the IMF,

“both in Accra and in Washington, D.C., on a Program to restore macroeconomic stability, are progressing steadily.”

“We, therefore, encourage all Ghanaians to disregard these publications, which are in no way reflective of the progress of work being done with the IMF.”

The Ministry also stated that it has always protected the interests of financial investors.

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