#Johnniesbite: No Haircut, Why The U-Turn?

But the president spoke on Sunday and told us that look there will be no haircuts. He said there will be no haircuts, emphatic, no haircuts. The president said there will be no haircuts, no haircuts. There will be no haircuts. That'S what the president said. There will be. No haircut play the video Oliver. I also want to show organelles the no individual or Institutional Investor, including pension fund in government, Festival, bills or instruments will lose their money as a result of our ongoing IMF negotiations. There will be no haircuts, so I urge all of you to ignore the false rumors, just as in the banking sector, cleaner government insured that the 4.6 million depositors affected by the exercise did not lose their deposits. That was President akufado on Sunday, giving us assurance that there will be no haircuts in this 12 point solution to our current predicament and, as we mentioned earlier, there's going to be about a three week break within which people will feed into speculation. So president has showed us on Sunday that there will be no haircuts treasury bills and all of those ones, pension fund and everything there'll be no haircut. So we were happy and then information, minister, is speaking English to explain the president's English. The president, who speaks more Irish fish than everybody else now you have information Minister explaining play the video. The first speculation that came out on the market, which has caused panic, is a haircut on principles. The president has responded to like says: there's not going to be any haircut. People are asking for some more information. I go back to the original thing that we have always said. There is absolutely no use in speculating now very shortly. The analysis and the details of the DSC and debt restructure will all be put out there. I think we can have confidence and count that this is the clarity that we have been given and let them come with those details, any further speculation. How about this? How about that? These are only six months that are in there. Yes, they've been given the Assurance by the president that no haircut no haircut on principal no haircut is the president's words. I'M saying the president's words are clear when you now start how about this? How about that, then? You are contributing to the original speculation. I think that what we should do is to take the president at his weight. Let them come and do the full announcement of the um, the debt restructuring program and if we have so clarity, but the clarity is more confusing, the clarity is more confusing and we were specific, no haircuts. Now we're being told about principles and whatever it is. There is confusion in the clarity. I tell you what the president was specific said: Pension funds, government treasury bills or instruments uh. You know all of those ones that they will not lose that because of the ongoing IMF thing. Yesterday a senior citizen sent this to me. He said hi I've been confused about the conversations on this investment haircut until the reality hit me today. Allah EDC Investments, limited of ecobank group that anyone who deserves to exit will lose about 2 23 percent of his total amortized value as payment for what they call marked to the market value just a small ingredient for your popular bite. Interestingly, it even bites off a bit of your total deposit. This is a senior citizen who is more than 70., who has saved this money? Who is hoping that his children and his grandchildren will benefit from it? If you lied, I lied, but it's been a trusted source. So now the conversation is that is there going to be a haircut or not because they told us there will be no haircuts, suddenly we're either getting Sakura or we're getting back Bush or we're getting Tokyo? Joe and we're getting all men of haircut we're getting Punk, we don't know, but the Assurance from the president was that there will be no haircut on Sunday on a holy day. Sunday, there will be no haircut now. I started to to think how the president speaks and then you have people go around explaining you remember in the matter of Aisha, one, whether I saw one was repatriated or whether she was deported. The president is a lawyer. The information minister is a lawyer. The lands of natural ministers resources, minister, is a lawyer and the lawyer things deeply before they speak, that's why they call them Leonard, and so I don't believe that the president, the lawyer, would not know the difference between uh. What do you call a deportation and and uh? What do you call it? Um repatriation, such that you have the information Minister and others come to now explain to us, and now we are back at it again. President was emphatic, there will be no haircuts and they liken it to the banking sector, uh clean up or collapse whatever it is that depositors funds were saved. This message here says otherwise. Let me read it again. I have been confused about the conversations on this investment haircut until the reality hit me today and EDC Investments limited of ecobank group that anyone who deserves to exit - and you see when I spoke about speculation - people are beginning to go for their Monies because they are Not sure the defense is too much what we have gotten to. We require explanation assurances and to give the people hope, because if this is happening, The credibility of government has been called into question. How is it that the president will tell us that there will be no haircuts, and then we are learning that oh, there will be some sort of a haircut and now he's saying that he want. If you want to exit, you lose about 23 of your total amortized value as payment for what they call Mark to market value, just a small ingredient for popular. But it says, interestingly, it even bites off a bit of your total deposit. So even the old people's moneys, a pension found their small small money that they have put down so that in the in the night of their lives they can enjoy even that one we are not sparing. Why are we so unkind to ourselves? And then I asked the question: what is the government sacrificing they're asking us to sacrifice, but what exactly is the government sacrificing the people in government? What are they sacrificing? You say you started deducting 30 percent of your salary since May. How much has accrued where's the money? What has it been used for? What are you sacrificing and please clarify? Would there be a haircut or not let the people know, because you told us, Mr akufado, there will be no haircut good morning.