Tier 2 Pension Investments Won’t Be Affected By Debt Restructuring, Ignore This Propaganda – Gov’t

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

There are concerns that investments in government securities may be affected by the government’s ongoing debt sustainability analysis, which is being carried out as part of the procedures for securing support from the International Monetary Fund.

According to the reports, the Debt Restructuring Program may have an impact on approximately GH3.7 billion of the GH3.9 billion in Tier 2 pension contributions that are invested in government securities.

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

The statement says that these publications and social media warnings have no basis in fact and are meant to undermine confidence in Ghana’s financial system.

However, the Ministry has guaranteed that the Government’s interactions 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 further asserted that it had always protected investors’ interests in the financial sector.