The Minority in Parliament has described the NDC government as “hypocritical” for condemning the NPP government for the debt restructuring programme while taking credit for its effect on the debt to GDP ratio.
The Ranking Member on the Finance Committee in Parliament, Dr. Mohammed Amin Adam while addressing the press after the mid-year budget presentation on July 23, argued that the decline in debt to GDP ratio to 45% was possible, due to the debt restructuring programme introduced by the erstwhile NPP administration.
He criticised government for engaging in politics with regards to the effect of debt restructuring programme.
“The minister tried to do politics with DDEP. They have blamed the NPP government for doing DDEP and taking Ghanaians through hardship but the Minister is happy to claim the decline in the debt to GDP ratio to 45%.
“We achieved the decline because of DDEP. And so it is hypocritical while you will condemn the government that did the debt restructuring and then you turn to take credit for the debt restructuring,” he stated.
According to Amin Adam, with the yielding results of the programme, Ghana will pay GHC111 billion in two years to service debt resulting from the debt restructuring.
“He mentioned in his presentation that Ghana will pay GHC111 billion in two years to service debt resulting from the debt restructuring.
“What the minister failed to say is that without the debt restructuring, Ghana would have been paying GHC230 billion to service those debt,” he added.
