<\/p>\n
The Member of Parliament for Cape Coast South, Kweku Ricketts-Hagan, believes the government\u2019s talk of haircuts on investments as part of debt restructuring was premature.<\/p>\n
\u201cYou have not started the negotiations, then you pre-empt yourself in the negotiations by making a statement that there is not going to be a haircut. You have shot yourself in the foot,\u201d he said on The Big Issue <\/strong>on Citi TV<\/strong>.<\/p>\n After the\u00a0president\u2019s assurances of no haircuts<\/strong> with respect to money invested in bonds during a speech last week, the government clarified that the restructuring was yet to be finalised.<\/p>\n The President said the statement was in response to rumours and speculation.<\/p>\n The restructuring talks are ongoing as part of Ghana\u2019s efforts to secure an IMF deal for $3 billion.<\/p>\n In the wake of the speech, Mr. Rickets-Hagan said this was further evidence that the Akufo-Addo administration does not understand the government it is running.<\/p>\n He felt there was no need for the government to be paying attention to speculation at this point.<\/p>\n Mr. Rickets-Hagan added that the speculation was only a consequence of the poor management of the economy.<\/p>\n \u201cThey are behind the economy they are running. You shouldn\u2019t be worried too much at this stage about speculation.\u201d<\/p>\n \u201cSpeculation is going to happen when there is uncertainty. Speculation happens when people don\u2019t have confidence in your economy; when your policies are no longer credible,\u201d the MP said.<\/p>\n