Dr. Mahammed Amin Adam
Minister of Finance, Dr. Mohammed Amin Adam, has apologised to Ghanaians for the current economic hardships, which he blames on the Domestic Debt Exchange Programme (DDEP).
Speaking at a town hall meeting in Accra on Tuesday, August 6, 2024, Dr. Adam explained that the DDEP was a necessary measure required by the International Monetary Fund (IMF) to restructure the country’s debt.
He emphasised that the government’s intention was not to impose hardships on its citizens but to ensure the country’s economic recovery.
Dr. Adam highlighted the programme’s success, achieving 95% participation, and acknowledged the sacrifices made by Ghanaians.
“We understand the difficulties the DDEP has caused, and we apologise for the hardships. We never intended to burden our people,” he stressed.
He continued, “The NPP government has always aimed to reduce the burden on Ghanaians. The DDEP was a crucial decision that has contributed to our economy’s recovery.”
“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 added.
Dr. Adam expressed gratitude to Ghanaians for their support and participation in the programme, which has helped improve debt sustainability.
He urged citizens to forgive the government for any difficulties caused, assuring that the sacrifices made have been crucial to the country’s economic progress.
“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,” he said.
The Domestic Debt Exchange Programme was a key component of the government’s efforts to reduce its debt burden and improve debt sustainability.
By Ernest Kofi Adu