Akufo-Addo’s no hair cut comment was very irresponsible – Dr. Amoako Baah

According to him, the move shows that the president has no credibility, and nobody, including international investors, will have trust in his words.

Speaking in a Neat FM interview Dr. Baah said that the handlers of the president should not have allowed him to make the ‘haircut statement’ if they were not sure of it.

“Now we are not going to have only haircuts, they are going to cut our ears. The handlers of the president should not be allowing him to be making some statements.

“The no haircut comment he made was stupid. Is he a financial man? He was not the one who was supposed to talk about it. The finance minister is the one supposed to talk about things like this.

“He has disgraced himself. This shows that the president has no credibility. If you don’t know something, why would you talk about it? If you are a president, you must only talk about things you are sure of,” he said in Twi.

The Minister of Finance, Ken Ofori-Atta, has now announced a number of measures under the government’s Domestic Debt Exchange (DDE) programme.

He stated in a 4-minute address that the announcement was in line with the government’s Debt Sustainability Analysis as contained in the 2023 budget he presented to Parliament on November 24.

The minister laid out, among other things, the exchange of existing domestic bonds with four new ones, as well as their maturity dates and terms of coupon payments.

He also addressed the overarching goal of the government relative to its engagements with the International Monetary Fund as well as measures to minimize the impact of domestic bond exchange on different stakeholders.