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Debt exchange: Visually impaired man narrates haircut experience with Data Bank

A visually impaired supporter of the New Patriotic Party (NPP), has said that he is unable to retrieve his GHc50,000 investment with Data Bank as a result of government’s ongoing Domestic Debt Exchange Program.

Speaking in an interview on Akoma FM, Agya Bray, who sells medical products, said that he went to the bank to withdraw his investment, which had matured, only to be told that there were no funds available.

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He added that the bank told him that if he insists on getting his money back, he will have to lose GHc16,000 of his investment.

“I did not invest in a government bond. In 2007, I invested ¢500,000,000 (GHc50,000) in products of Ofori-Atta’s Bank (Data Bank), called the M-Fund and F-Fund. I went there for my money this past Tuesday, and they said that they don’t have any money for me.

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“They told me that they can’t give me any money, and they were saying some things about haircuts and the IMF bailout the government was seeking. And I asked them why the government should be using my money to borrow from the IMF.

“Then they told me that if I wanted my money, they would let someone pay me, but I am going to lose ¢160,000,000 (GH¢16,000),” he said in Twi.

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The NPP supporter said that he has always voted for the party, but if people like him lose their money due to the government’s debt exchange programme, they will abstain from voting in the upcoming 2024 elections.

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