The Minority in Parliament has accused the government of attempting to take credit for debt restructuring gains achieved under the Akufo-Addo administration.
In a press statement issued on Tuesday, July 29, the caucus described Finance Minister Dr. Cassiel Ato Forson’s remarks on public debt as misleading and lacking context.
The Minister had claimed that Ghana’s debt-to-GDP ratio had declined from 61.8% in December 2024 to 43.8% in June 2025, attributing the development to sound economic management by the current administration.
However, the Minority challenged the basis of the claim, questioning the extent of actual debt repayments made by the government.
“It is no secret that the painstaking efforts by the NPP government 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 this reduction in public debt?” the statement read.
The group also disputed the Minister’s claim of improved credit ratings, citing a June 2025 report from Fitch which attributed the upgrade directly to the October 2024 Eurobond restructuring initiated by the previous administration.
“Was Dr Ato Forson the Finance Minister in October 2024?” the Minority queried.
They concluded by accusing the government of engaging in “propaganda economics,” stating: “How do you criticise an exercise and yet accept the product of the same exercise? We know that Ghanaians understand this kind of economics.”
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Source: Ernest K. Arhinful
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