Ghanaian-American comedian and actor, Michael Blackson, has expressed his disappointment with the Ghanaian government for defaulting on Eurobond payments, which has affected his charitable initiative, the Michael Blackson Academy.
Having invested in Eurobonds to support his academy in Agona Nsaba, Michael Blackson took to social media to express his frustration with the government’s decision to prioritize debt repayments to other nations, particularly China.
He lamented that his investment was meant to ensure the long-term sustainability of the free school he established, but the government’s actions have put these plans in jeopardy.
In addition, Michael Blackson called out the Ghanaian Finance Minister for offering bondholders two unappealing options: a significant haircut with a lower interest rate and a longer maturity period, or a lower interest rate with an even longer maturity period. He criticized the government’s handling of the situation, expressing deep disappointment.
Despite the challenges posed by the government’s default, Blackson remains dedicated to the success of his academy.
The Michael Blackson Academy, which offers free education from kindergarten to Basic 3 and provides free uniforms for students, was founded three years ago.
His investment in Eurobonds was intended to secure the academy’s future, but the government’s actions have cast doubt on its stability.
