Minority accuses NDC gov’t of taking credit for NPP’s debt relief efforts

The Minority in Parliament has accused the incumbent government of taking credit for debt restructuring achievements initiated under the Akufo-Addo administration.

In a press statement issued on Tuesday, July 29, the group described the Finance Minister’s remarks on public debt as misleading.

According to the Minister, Ghana’s public debt-to-GDP ratio had declined from 61.8% in December 2024 to 43.8% in June 2025, which he attributed to prudent economic management.

But the Minority questioned how much of the actual debt had been repaid to warrant such a claim.

“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?” they asked.

They also disputed the Finance Minister’s claim of credit rating improvement, citing Fitch’s June 2025 statement which linked the upgrade directly to the October 2024 Eurobond restructuring under the previous administration.

“Was Dr Ato Forson the Finance Minister in October 2024?” they questioned.

The Minority further criticised what they called “propaganda economics” and a lack of 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.