Expedite Action On Domestic Debt Exchange Programme – GPCC To Government

Expedite Action On Domestic Debt Exchange Programme – GPCC To Government

The Ghana Pentecostal and Charismatic Council (GPCC) has urged the Government of Ghana (GoG) to expedite action on the Domestic Debt Exchange Programme (DDEP) to help resolve the economic challenges facing the country.

The Council, in a communique issued on February 3, 2023 following its recently-held national conferences at the Pentecost Convention Centre (PCC), Gomoa Fetteh, expressed concern about the dire economic challenges confronting the nation which has resulted in very high levels of inflation and currency depreciation.

“This is adversely impacting the poor the most, wiping incomes and wealth and pushing most Ghanaians into extreme poverty and hardship without any clear social safety nets,” it bemoaned.

The Council, among other requests, has called on the government to continue with the present productive engagements for a more amicable arrangement with respect to the DDEP to help solve the prevailing challenges.

“The GPCC acknowledges that globally economies are in turmoil and facing various degrees of socio-economic challenges. The Council particularly recognises and appreciates the efforts of the Government to contain the situation In Ghana. These recognisable efforts include the recent staff level agreement (SLA) reached with the International Monetary Fund (IMF) in December 2022. 

“We [therefore] urge the Government to do everything possible to ensure the IMF programme goes to the Board to help rescue the situation and reset the economy,” the communique said.

The communique further states that: “Whatever form the DDEP takes, Government should ensure that the financial sector, which is a key pillar of growth for the economy, is not destroyed in the process of the debt exchange programme.”

The Council has also appealed to the GoG to, as a matter of urgency, downsize government machinery and cut down on expenditure in order to build confidence among the citizenry about its commitment in solving the economic problems. 

“From the Council’s perspective, it is important that the Government demonstrates a strong sense of burden-sharing to encourage key bond holders to fully accept the DDEP voluntarily,” it read.

The Council has also urged the Government to work with the relevant law enforcement agencies to retrieve all COVID-19 funds that the Auditor General’s 2021 Report cited as being unaccounted for or misapplied and also collaborate with other stakeholders and support calls to organise a non- partisan national consultative forum to dispassionately discuss and gather ideas for addressing the prevailing socio-economic and environmental challenges.

On its part, the Council reaffirmed its willingness to support the process in remedying the said challenges by availing its platforms to support consultative initiatives aimed at addressing the prevailing national problems to engender consensus building, unity and peace.

Among other commitments, the Council would increase admonition to Reverend Ministers of the Gospel to live modestly and above reproach.

“We would also intensify teachings to church members, especially those in public service, to show the way by imbibing the principles of integrity in the fight against corruption and being mindful of the fact that righteousness exalts a nation, but sin is a reproach to any people,” it further stated.

The communique was presented to the Information Minister, Hon. Kojo Oppong Nkrumah, last Monday by a delegation led by the President of the Council, Apostle Eric Nyamekye.

Find the full communique below:

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