We really should have had Amin Adam much earlier as Finance Minister – Franklin Cudjoe
We really should have had Amin Adam much earlier as Finance Minister – Franklin Cudjoe
The Finance Minister Dr Mohammed Amin Adam has gained plaudits from the Founding President of IMANI Africa Franklin Cudjoe for the apology he rendered to Ghanaians on the economic hardships.
In the view of Mr Cudjoe, Ghana should have had Dr Amin Adam who was appointed to replace Ken Ofori-Atta as Finance Minister on 14th February 2024, much earlier.
in a Facebook post, Mr Cudjoe said “Thank you, Finance Minister. We really should have had you much earlier. When is Dr. Dr. Mahamudu Bawumia going to own up and do the same and then provide real believable solutions and ideas that will never ever get us into these rudderless economic storms again?
“Remember, the economy is what we know him for, not promising mobile phones on credit for jobless people.People need to have jobs and dignified income first so they can buy their own mobile phones. People do not need the state to babysit and feed them. Many are thinking of survival before growth. Well, if he acknowledges these things, l might put in a word for him. It is possible for him to do these.”
On Wednesday, August 6 during a town hall meeting, Dr Mohammed Amin Adam rendered an apology to Ghanaians for the hardships imposed on them by the Domestic Debt Exchange Programme (DDEP).
He stated that the programme was carried out as one of the requirements for the programme with the International Monetary Fund (IMF).
The Karaga lawmaker stated that it was not the intention of the government to visit hardship on the people.
He said “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 domestic debt exchange programme was very successful, achieving 95 percent participation. On this note, I would like to appeal to the people of this country 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. ”
He added “It was a necessary, important decision at the time. If we had avoided it our development or economy would not be what it is today. All the support you gave us 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 on behalf of the president for the sacrifices, for the efforts that you all have made to participate in the DDEP.”
The Finance Ministry had stated earlier that the DDEP was done to help protect the economy and enhance our capacity to service our public debts effectively.
The alternative of not executing the DDEP would have brought grave disorder in the servicing of our national debt and exacerbated the current economic crisis, the Ministry said.
The programme initially sought to exchange GH¢137.3 billion worth of Government of Ghana (GoG) bonds for new ones but later revised to GH¢109.84 billion, with the government seeing the voluntary exchange of GH¢87 billion; which was considered successful.
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