Finance Minister, Dr. Mohammed Amin Adam has apologized to Ghanaians for the difficulties they had faced due to the Domestic Debt Exchange Programme (DDEP).
He explained that it was a necessary measure imposed to stabilize the economy, and as such, the government never intended to impose hardships on its citizens.
Speaking at the Greater Accra regional town hall meetings and exhibitions on the government’s achievements in the financial sector on 6th August 2024, Dr. Amin Adam acknowledged that the Domestic Debt Exchange Programme DDEP did cause difficulties to Ghanaians, however it is crucial for the country’s long-term financial stability.
“We decided to restructure our debts because it was one of the requirements by the IMF. The Domestic Debt Exchange Program was a very successful program, achieving 95% participation and on this note, I would like to appeal to the people of Ghana to forgive us. It is never the intention of any government to impose hardships on its people, more so the NPP government that has demonstrated that we want to reduce the burden of the Ghanaian people.”
“That same government cannot impose hardships on the same people. It was a necessary, very important decision at the time that if we avoided it, our economy would not recover such as it has recovered today.”
He also thanked Ghanaians for their support and understanding during that time, appreciating the citizens’ fortitude and patience and underlining that their sacrifices were worth the cost.
“The decisions we made and all the support you gave us, the people of Ghana, during the DDEP, has 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, the people of Ghana, to thank you on behalf of the President for the sacrifices, for the efforts that you all have made in participating in the Domestic Debt Exchange Program that saved our economy. Thank you very much for that support you gave to the government.”
Story by: Alexander Kuuku Osei-Baidoo | univers.ug.edu.gh
