The claim that the current government was able to service debt payments due to financial buffers left behind by the New Patriotic Party (NPP) has been categorically dismissed by Felix Kwakye Ofosu, Minister of State for Government Communications and spokesperson for President John Dramani Mahama.
At a heated press briefing in Accra on Wednesday, February 19, Kwakye Ofosu tore into assertions made by former Finance Minister Dr. Mohammed Amin Adam, who had insisted that the NPP government strategically built buffers in Ghana’s Debt Reserves Accounts to sustain the country’s debt servicing obligations.
Challenging the credibility of these statements, Kwakye Ofosu laid out the stark figures. “If you put it together, that is GHC 15 billion,” he stated, referencing the country’s obligations.
“Yet, the balance when the NPP was leaving was just GHC 155 million. So how could they possibly say they built a buffer? What kind of buffer is this when you have obligations amounting to GHC 15 billion?”
His remarks come on the heels of President John Dramani Mahama’s directive to Finance Minister Dr. Cassiel Ato Forson to ensure the fourth coupon payment to Domestic Debt Exchange Programme (DDEP) bondholders.
The move has reignited debates over Ghana’s fiscal health, with the opposition NPP claiming credit for what they describe as prudent financial management.
However, Kwakye Ofosu’s rebuttal paints a starkly different picture, suggesting the previous administration left behind little more than a financial vacuum.
