American comedian and actor Michael Blackson, of Ghanaian descent, has voiced his frustration with the Ghanaian government over the mismanagement of his $1 million Eurobond investment.
In a recent tweet, he criticised the government’s debt restructuring program, which significantly diminished his returns, and urged Ghanaians to elect a God-fearing leader in the upcoming December 7 elections.
According to reports, Blackson invested this money in Ghana’s Eurobonds to fund his free school project for underprivileged children but has received only one interest payment since the government restructured its debts.
“I got one payment, and then it stopped. It’s been two years, and I’ve had to find $10,000 each month to run the school,The debt restructuring plan offered bondholders two challenging options: accept a 37% cut with a 5% interest rate over 11 years or keep the principal with a lower 1.9% interest rate but wait 15 years for maturity.” he lamented.
Further Blackson called the situation unjust, accusing the government of using investors’ funds to settle foreign debts.
“They used our money to pay their debt to China or whoever and left us hanging,” he stated.
Expressing his disappointment, Blackson noted that the government’s actions have set him back financially.
“Ghana has set me back financially, and I’ll never forgive them for this. Ghana robbed me and many others who trusted them enough to invest,” he tweeted.
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