Political Scientist with the the University of Ghana, Professor Ransford Gyampo, has reiterated his position that organised labour will resist government’s resolve to use pension funds as part of its debt restructuring programme.
Prof Gyampo is of the opinion that some people spearheading the programme have secured their “wealth and ill-gotten moneys” in foreign banks while attempting to play “ajana one, ajana two” with the pension funds of people in Ghana.
“Some have comfortably secured their wealth and ill-gotten moneys in foreign bank accounts and want to play ‘ajana one, ajana two’ with the legitimate toil and pension of poor people. Labour is united in this fight to defend public soul,” Prof Grampo assured.
Government’s debt exchange programme, which involves the extension of the maturity date of bonds, has been met with resistance by organised labour.
The Ghana National Association of Teachers, Ghana Registered Nurses and Midwives Association, National Association of Graduate Teachers, Ghana Medical Association, Ghana Chamber of Commerce and the Trades Union Congress have all kicked against the announced plan.
The unions argue that the plan will reduce the value of pension funds of their members which are held in institutional bonds, bonds which will be affected by government’s plan.