Dr. Samuel Quaye, a retired medical doctor, made a wise investment decision when he bought government bonds a year ago.
The elderly retiree thought that after his principal had grown, he would have enough money to pay for the necessary medical care as his health was deteriorating.
His confidence was short-lived, nevertheless, when the government declared that it would implement a Domestic Debt Exchange Program (DDEP).
Dr. Quaye has been concerned ever since he invested his entire life savings.
The retired doctor now regrets investing in bonds. Dr. Quaye now wishes he had saved his money abroad even though he is aware that he could not have retained the enormous sum of money in his home.
“I made a big mistake buying bonds. I am regretting it. I know I had no alternative then because for such an amount I couldn’t keep it in my house that is why I invested it.
“We are in a world where you cannot save your money at home. But now, I think I should have invested my money outside the country,” he said on Joy FM’s Super Morning Show.
One of the many holders of individual pension bonds who would be impacted by the government’s ongoing debt swap program is Dr. Quaye.
These pensioners have been picketing the Finance Ministry to express their unhappiness with the situation.
Many of them are concerned that the initiative will reduce their source of income, worsening their financial plight.
In order to protest their inclusion in the scheme, the seniors have gathered in a large group before the Finance Ministry’s front entrance once more today.
Last Monday, former Chief Justice Sophia Akuffo, who joined the picketers, called the Finance Minister’s idea wicked, illegal, incorrect, and insulting.
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