Prime News Ghana

Gov't exempts pension funds from debt exchange programm

By Vincent Ashitey
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Government have exempted pension funds from the debt exchange, Prime news can confirm.

The decision was arrived Thursday,, December 22 following a meeting between the government, represented by Finance Minister Ken Ofori Atta and Minister for Employment Ignatius Baffour Awuah, and Organised Labour being represented by Dr Anthony Yaw Baah.

In a signed Memorandum of Understanding, Ignatius Baffour Awuah said government and the Organised Labour will work together to resolve all issues to make the programme successful towards the restoration of macroeconomic stability of the country.

Finance Minister Ken Ofori-Atta on Monday, December 5, launched the debt exchange programme in line with the government’s quest to restructure debt and put the economy back on track.

However, the Civil and Local Government Staff Association of Ghana (CLOGSAG) served notice last week Thursday that its members will embark on a nationwide strike if governmnet goes ahead with its objective to include pension funds in its debt reconstruction

"In the light of the above, CLOGSAG will like to entreat all its members to be calm and go about their normal duties and continue to contribute to the good governance of Ghana,” stated Executive Secretary of CLOGSAG Isaac Bampoe Addo. “Ayekoo to all workers. We will continue to be on the alert.

“CLOGSAG is serving notice on the National Labour Commission that should government default in owning any of the coupons when due for the schemes, it will declare an indefinite nationwide strike.”