The Minister of Finance, Dr. Mohammed Amin Adam, has apologised to Ghanaians for the hardships they are experiencing due to the Domestic Debt Exchange Programme (DDEP).
His comments come after Assin Central MP Kennedy Agyapong advised members of the ruling New Patriotic Party (NPP) to admit their mistakes in the management of the economy and apologise to Ghanaians.
Similarly, Obuasi West MP Kwaku Kwarteng, recently suggested that the NPP acknowledge past and present failures to help the party sell its re-election bid and "break the 8".
During a town hall meeting in Accra on Tuesday, August 6, 2024, Dr. Amin Adam explained that the DDEP was a requirement set by the International Monetary Fund (IMF), making its implementation necessary.
He assured that it was never the government’s intention to impose hardships on Ghanaians.
Dr. Amin Adam emphasised the critical need for debt restructuring to stabilise the economy.
He noted that while the programme has caused difficulties, it is essential for the country's long-term financial health.
Dr Amin Adam also expressed appreciation to Ghanaians for their support and understanding during this challenging period. He acknowledged the resilience and patience of the citizens, emphasising that their sacrifices were not in vain.
Read also: What will the NPP be admitting to if they apologise? Asks Dr Asah-Asante
The Minister reiterated the government's commitment to mitigating the negative impacts of the DDEP and working towards economic recovery.
The lawmaker called for continued cooperation from the public as the government navigates these difficult times, promising that their efforts would eventually lead to better economic stability and growth.
“We decided to restructure our debts because it was one of the requirements by the IMF. We started with the Domestic Debt Exchange Programme, the DDEP was a very successful programme, achieving 95% participation. And on this note, I would like to appeal to the people of Ghana to forgive us, forgive us."
“It is never the intention of any government to impose hardships on its people. More so, the NPP government has demonstrated that we want to reduce the burden on the Ghanaian people."
“It was a necessary, very important decision at the time, that if we had avoided it, our economy would not recover as it has recovered today. 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."
“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,” the Finance Minister said.
Latest Stories
-
FirstBank Ghana expands footprint with new Nhyiaeso branch
6 mins -
FirstBank Ghana pays courtesy call on Asantehene ahead of Nhyiaeso branch commissioning
11 mins -
CAF President blasts Ghana over Baba Yara stadium ban
15 mins -
GUTA calls for de-politicization of fight against galamsey
16 mins -
Police outlines guidelines for NDC’s nationwide demonstration against EC
31 mins -
Demystifying the claims of rip-offs and arbitrary charges in Ghana’s port sector—from the shipping lines perspective
42 mins -
EducationUSA: Ghanaian students in US benefit from $9 million Investment
56 mins -
Elections not about insults; be decent in your speech – Bawumia to Mahama
1 hour -
Reverse osmosis the most reliable way to filter water – Association of Packaged Water Producers
1 hour -
UG SRC Presidential Race: Court ruling has taught me a lot about life – Guru
1 hour -
Voazok Tours to hold Canada Agricultural Tour
2 hours -
Peace Council implements measures to ensure peaceful 2024 elections
2 hours -
Staff of banks involved in fraud increases by 46% in 2023; BoG expresses worry
2 hours -
NDC calls for public support for upcoming protest – W/R NDC Secretary
2 hours -
2024/25 GPL: Vision FC secure 2-0 maiden GPL win against Accra Lions
2 hours