Ghanaian-American comedian and actor Michael Blackson has come out to reveal that he turned down a seeming 10% bribe to get his $1.2 million investment stuck in Ghana's local debt exchange program (DDEP). As per Blackson, while talking to VladTV, his charity money got stuck after the government initiated the program of re-exchanging the nation's debts. I held Eurobonds because I needed a secure currency, but when the debt crisis struck Ghana, they stopped payment," he said. "Then one of the government people said to me that he would recover my money for me, but that he would have to take 10%. I said no way."
The comedian, who established a free school in Ghana, wasn't satisfied either with the handling of the crisis by the old government. For him, instead of spending it to settle their dues to investors as they obligated themselves to, they spent the money to repay foreign debts. Blackson further noted that he had the option either of getting an instant loss of 37% with reduced interest rates or waiting for 15 years to get his total investment but at much-reduced returns.
The comedian noted that he opted to protest his money and not offer a bribe, noting that as long as he did not receive the money, he could just keep protesting for its release. This money was supposed to fund free education. I’m doing the government’s job by using my money to build schools, and yet this happens,” he said. Although he protested, Blackson indicated that he does not blame Ghana but blames the ex-NPP administration for the loss of funds by investors. He also hoped that the new government would act differently.
"I like Ghana. It's a great country with great people. My gripe is with the leadership staff at the time," he said. Blackson's announcement serves to underscore the increasing worry of investors whose funds were erased under the debt restructuring scheme by Ghana. Some of them wailed for assistance from the government to address the issue.
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