President-elect John Dramani Mahama has rejected assertions by Finance Minister Dr. Mohammed Amin Adam that the outgoing New Patriotic Party (NPP) administration is leaving behind a resilient and recovering economy.
Describing these claims as a misrepresentation of Ghana’s financial reality, Mr. Mahama warned that the true state of the economy is far worse than portrayed.
Divergent Narratives
Dr. Adam had earlier praised the NPP government’s efforts, citing what he called significant strides in economic recovery despite global and domestic challenges. He highlighted progress in fiscal management as a key achievement of the outgoing administration.
However, speaking during a courtesy visit to the Canadian High Commissioner to Ghana, Myriam Montrat, in Accra, Mr. Mahama dismissed this optimistic narrative. He pointed to mounting debt and fiscal challenges as evidence of the country’s precarious economic state.
“The energy sector needs urgent intervention, or it risks collapsing everything,” Mr. Mahama stated. “When the Minister of Finance claims the economy is turning around, we are staring at a $2.5 billion debt, while their bailout is only $3 billion. That $2.5 billion liability alone is enough to undo any progress made.”
Commitment to Transparency
Mr. Mahama criticised the outgoing administration for promoting an overly optimistic view of the economy to bolster its legacy. He vowed to “open the books” upon assuming office to provide Ghanaians with a transparent and accurate picture of the nation’s finances.
“This is not about pointing fingers but being honest with the people. Ghanaians deserve to know the real state of the economy so they can understand the tough decisions needed to restore stability and foster sustainable growth,” he said.
A Call for Realism
The President-elect’s remarks signal his administration’s intention to address Ghana’s financial challenges head-on, prioritising transparency and accountability as a foundation for economic recovery. His critique of the NPP’s narrative underscores the importance of aligning public expectations with economic realities.
