GhArticles.com Every News in Detail
Finance Minister Dr. Cassiel Ato Forson has laid blame on the previous Akufo-Addo-led government for the widespread financial hardship caused by the Domestic Debt Exchange Programme (DDEP), describing it as a result of fiscal recklessness.
Presenting the 2025 Mid-Year Budget Review in Parliament on Thursday, July 24, Dr. Forson said the decision to restructure Ghana’s domestic debt—though painful—was a necessary response to the dire financial state inherited from the former administration.
“Mismanagement of our public finances by the previous administration led to devastating haircuts through the Domestic Debt Exchange Programme, which denied pensioners and the middle class their lifetime savings, livelihoods, and dignity,” he stated.
He stressed the human cost of the DDEP, noting how many Ghanaians lost trust in the financial system after watching their investments and savings dwindle.
Despite the setback, Dr. Forson assured the House that the current administration is working to restore fiscal discipline and rebuild confidence in government securities. He urged bipartisan cooperation to help implement key reforms aimed at long-term economic recovery and stability.
