The Minority Spokesperson on Finance, Dr. Cassiel Ato Forson says targeting domestic creditors in a possible debt restructuring will hurt the Ghanaian economy. Ghana’s debt stood at GH¢402.4billion as of July 2022. According to Dr. Forson, debt relief in excess of GH¢200 billion is needed to make Ghana’s current debt sustainable. Speaking at the “Building the Ghana We Want” lecture at the University of Professional Studies, Accra on Thursday, October 27, 2022, the former Deputy Finance Minister admonished the government to avoid a mickey mouse form of debt restructuring. “One of the biggest dilemmas in solving debt restructuring is the extent to which the burden should be borne by holders of the debt instrument governed by domestic and foreign laws and that’s what people call domestic foreign debt restructuring. Restructuring domestic dent is like surgery, you only do it if you must and you avoid it if it might do more harm than good. It is a dangerous tool,” Dr. Ato Forson stated. He added: Restructuring your domestic debt should be thought through well. Imagine the consequences of haircuts. On the face value of your interest on your bond, imagine waking up one early morning only to be told that your GH¢1 million in government bond has suddenly become GH¢700,000 to the extent that the government has taken GH¢300,000 of your money, imagine that! Pension funds will suffer a drop in value." "Tier 2 and Tier 3 pension payout will drop from already low levels. Tier 1 SSNIT reserve will drop in value, SSNIT capacity to pay pensions will certainly suffer, and Insurance companies’ reserves will fall with implication for benefit payment, unfortunately. Local banks, other deposit-taking institutions, savings & loans, and rural banks will all suffer.”