The Minority in Parliament has strongly criticized the Mahama-led administration for taking what they describe as undue credit for recent gains in Ghana’s debt restructuring efforts. They argue that the achievements being celebrated stem from groundwork laid by the previous Akufo-Addo government, particularly in areas of debt cancellation and external creditor negotiations.
Speaking to journalists on Tuesday, July 29, former Finance Minister Dr. Mohammed Amin Adam described comments made by current Finance Minister Dr. Cassiel Ato Forson as “misleading and lacking in substance.” Dr. Forson had earlier cited a drop in Ghana’s public debt-to-GDP ratio—from 61.8% in December 2024 to 43.8% in June 2025—crediting it to effective economic management by the current government. However, the Minority questioned the basis for this claim, pointing out that there has been little evidence of actual debt repayment to warrant such assertions.
The Minority emphasized that it was the previous NPP administration that secured the October 2024 Eurobond restructuring and achieved a debt cancellation of US$5 billion with an additional US$4.7 billion in debt service savings. They also referenced a Fitch report from June 2025, which attributed Ghana’s credit rating improvement to that same restructuring. Accusing the current government of hypocrisy, they labeled its economic narrative as “Propaganda Economics,” questioning how it could criticise an exercise but praise the outcomes achieved through it.
