TUC raise concerns over lack of engagement on government’s debt exchange programme

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The Trades Union Congress (TUC) has raised concerns about government’s failure to engage labour unions before launching its Domestic Debt Exchange programme.

TUC says it was gravely concerned about the government’s programme because of its potential negative impact on worker’s pensions.

The TUC’s reaction followed the government’s move to rely on a softer payment plan with institutions and individuals who have lent money to the country as part of efforts to reduce the burden the public debt stock puts on the economy.

In a statement signed by the Secretary General of the TUC, Dr. Yaw Baah, the union bemoaned the lack of prior engagement with labour given that a substantial portion of worker’s pensions is invested in government bonds.

“The Trades Union Congress is gravely concerned about government’s domestic debt exchange (DDX) programme…because of its potential negative impact on workers’ pensions. We are equally concerned about the lack of prior engagement with labour unions, given that a substantial portion of workers’ pensions is invested in government bonds.”

“We are assuring workers that, the TUC and its affiliate unions will do everything in our power to ensure that our members are fully protected and that not even a pesewa of pension funds is lost in the debt restructuring programme.”

TUC therefore called for calm among its members while it works to protect their pensions.

“We are therefore appealing to all workers and unions to remain calm as we work to protect our retirement funds,” TUC add in a statement.

Source: myghanadaily

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