By: Akua Oteng Amponsah
The Minority in Parliament has accused the government of falsely taking credit for debt restructuring achievements initiated by the previous New Patriotic Party (NPP) administration.
In a press statement, the Minority described the Finance Minister’s claims about public debt reduction as misleading.
According to the Minister, Ghana’s public debt-to-GDP ratio declined from 61.8% to 43.8% between December 2024 and June 2025, attributing this to prudent economic management. However, the Minority questioned the validity of this claim, pointing out that the NPP government’s efforts led to debt cancellation of $5 billion and debt service savings of $4.7 billion.
“It is no secret the painstaking efforts the NPP government made to restructure our debts… led to outright debt cancellation of US$5 billion and debt service savings of US$4.7 billion. What then did the NDC government do to claim reduction in the public debt?” the Minority asked.
The Minority also disputed the Finance Minister’s claim of improved credit rating, citing Fitch’s statement that linked the upgrade to the October 2024 Eurobond restructuring under the previous administration. “Was Dr Ato Forson the Finance Minister in October 2024?” they questioned.
The Minority condemned the government’s actions as “propaganda economics” and accused them of lacking integrity. “How do you criticise an exercise, and accept the product of the same exercise? We know that Ghanaians understand this kind of economics – propaganda economics,” the statement concluded.
