Dr. Agyapomaa Gyeke-Darko, an economist and senior lecturer at the University of Ghana Business School (UGBS), has referred to Minister of Finance Ken Ofori-Atta's proposal for burden sharing as "burden transfer."
She claims that despite being one of the requirements for an International Monetary Fund (IMF) bailout program, the government has not shown any commitment to supporting the debt sustainability program.
Following the announcement of draconian debt restructuring measures, Mr. Ofori-Atta urged bondholders of pensions to join the government in reducing their yields on government bonds in order to share the economic burden currently being experienced by the nation.
Dr. Gyeke-Darko emphasized the necessity of the government constantly spending within its means in his remarks on the first edition of the 2023 Joy Business Thinking Leadership programme.
She made the case that it is unjust for the Finance Minister to place the bulk of the debt restructuring program on average Ghanaians while the government is unwilling to make any concessions.
“Are we going to be going on with the way we’re spending, or we are going to be sitting down and rationalising our expenditure? I hear the Minister of Finance speaking about burden sharing all the time, but I see it as a burden transfer, what is government actually doing to support these whole sustainability thing?”