Dr. Mohammed Amin Adam, the Minister for Finance, has sincerely apologized to Ghanaians for the hardships caused by the Domestic Debt Exchange Programme (DDEP).
Dr. Adam explained that the government's intention was never to impose difficulties on the people but to make a critical decision necessary for the country's economic recovery.
This apology followed recommendations from Assin Central MP Kennedy Agyapong and Obuasi West MP Kwaku Kwarteng, who urged the New Patriotic Party (NPP) to admit their mistakes and seek forgiveness from Ghanaians.
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| Dr. Mohammed Amin Adam - Finance Minister |
Speaking at a town hall meeting in Accra on Tuesday, August 6, 2024, Dr. Amin Adam elaborated that the DDEP was a requirement set by the International Monetary Fund (IMF) to restructure Ghana’s debts.
Dr. Adam’s apology and detailed explanation highlight the government's dedication to transparency and accountability. He acknowledged the hardships faced by Ghanaians and stressed the necessity of debt restructuring for economic recovery.
The Finance Minister noted the success of the DDEP, with 95% participation, and expressed his gratitude to Ghanaians for their support. He recognized the sacrifices made by the citizens and asked for forgiveness, stating, “We decided to restructure our debts because it was one of the requirements by the IMF… It was a necessary, very important decision at the time… The decisions we made, and all the support you gave us during the DDEP have contributed largely to the recovery our economy is seeing today…”.
He further added, “This is why I want to appeal to you to forgive us. But also to thank you on behalf of the president for the sacrifices, for the efforts that you all have made participating in the DDEP that saved our economy.”
The DDEP was a key component of the government’s strategy to reduce its debt burden and enhance debt sustainability.
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