The government has agreed to exempt all pension funds from its ongoing domestic debt exchange programme after a crunch meeting between the Finance Minister Ken Ofori-Atta and labour unions on Thursday over the issue.
At least seven labour unions – Teachers and Education Workers’ Union (TEWU), Ghana National Association of Teachers (GNAT), Ghana Registered Nurses and Midwives Association (GRNMA), National Association of Graduate Teachers (NAGRAT), Ghana Medical Association (GMA), Ghana Chamber of Commerce and the Trades Union Congress (TUC) – have raised red flags over the programme.
A Memorandum of Understanding issued after the meeting said, “the government has decided to grant exemptions to all pension funds in the Domestic Debt Exchange Programme.”
“Government of Ghana and organised Labour /associating shall, however, work together to explore mutually beneficial option with debt sustainability limits and to also promote macroeconomic stability and economic recovery in the spirit of partnership,” the MoU added.
Meanwhile, organised labour has called off its indefinite strike slated for 27 December due to the latest development.
