Dr. Mohammed Amin Adam, the Minister of Finance, has issued a heartfelt apology to Ghanaians for the ongoing economic hardships resulting from the Domestic Debt Exchange Programme (DDEP) implemented over a year ago.
During a town hall meeting in Accra on Tuesday, August 6, 2024, Dr. Amin Adam explained that the DDEP was a necessary measure mandated by the International Monetary Fund (IMF) to aid in the nation’s economic recovery.
“We decided to restructure our debts because it was one of the requirements by the IMF,” Dr. Amin Adam stated. “The Domestic Debt Exchange Programme was a very successful initiative, achieving 95% participation. On this note, I would like to appeal to the people of Ghana to forgive us.”
He emphasized that the government had no intention of imposing hardships on its citizens, highlighting the NPP government’s ongoing efforts to alleviate the burdens faced by Ghanaians. “It was a necessary, very important decision at the time. Had we avoided it, our economy would not have recovered as it has today. The decisions we made, along with the support you provided during the DDEP, have significantly contributed to the recovery our economy is experiencing.”
Dr. Amin Adam expressed gratitude on behalf of the president, acknowledging the sacrifices and efforts made by Ghanaians in participating in the DDEP. “This is why I want to appeal to you to forgive us, but also to thank you for your contributions in saving our economy,” he said.
The Finance Minister’s plea for forgiveness follows the advice given by Kennedy Agyapong, the NPP MP for Assin Central, who recently urged the government to acknowledge the economic challenges and apologize to the populace. Agyapong
stressed that humility and admission of mistakes are crucial for gaining the trust and support of voters in the upcoming December 2024 General Elections.
“Let’s go out there with humility, apologize to Ghanaians, and admit your mistakes before you can convince anybody to vote for you,” Agyapong advised. “If we ignore the hardships Ghanaians are going through, they will never accept what we are saying.”
The ruling NPP has faced increasing scrutiny and criticism over the country’s economic challenges, which the party attributes to the global COVID-19 pandemic and the Russia-Ukraine conflict. These factors have exacerbated economic difficulties, leading to inflation, unemployment, and general economic hardship for many Ghanaians.
As the 2024 General Elections approach, the NPP’s ability to address these issues candidly and show genuine empathy for the struggles of the Ghanaian people will be crucial for their campaign success.