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The Minority in Parliament has accused the current National Democratic Congress (NDC) government of misleading the public by taking credit for debt restructuring initiatives that were executed under the previous New Patriotic Party (NPP) administration.
In a statement released on Tuesday, July 29, the Minority described recent remarks by the Minister for Finance as inaccurate and deceptive. According to the Minister, Ghana's public debt-to-GDP ratio declined from 61.8% in December 2024 to 43.8% by June 2025—a change he attributed to prudent economic management by the current administration.
However, the Minority refuted this claim, stating that the observed debt relief stemmed from comprehensive debt restructuring efforts that were concluded before the NDC assumed office.
"The NPP government led painstaking negotiations that resulted in the cancellation of US$5 billion in debt and secured US$4.7 billion in debt service savings,” the statement asserted. “What has the current government done to merit credit for these achievements?”
The Minority further questioned the Finance Minister’s claims of improved credit ratings under the current regime. They referenced a Fitch report from June 2025, which explicitly linked Ghana’s credit rating upgrade to the successful Eurobond restructuring concluded in October 2024, during the tenure of the previous NPP administration.
"Was Dr. Ato Forson Finance Minister in October 2024?" the statement queried, suggesting that the credit rightly belongs to the former leadership.
Additionally, the Minority criticized what they described as "propaganda economics," accusing the government of discrediting past policies while simultaneously benefitting from their outcomes.
“How can you reject a policy and yet claim its success?” they asked. “Ghanaians are discerning. This is not responsible governance—it is propaganda economics.”
Source: The Ghana Report
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