The New Patriotic Party (NPP) has attributed Ghana’s recent $2.86 billion debt servicing relief to the policies and decisions made under President Nana Akufo-Addo’s administration.
According to NPP Communications Director Richard Ahiagbah, the debt relief stems from a Memorandum of Understanding (MoU) signed in June 2024 with the Official Creditor Committee.
Ahiagbah emphasized that the Akufo-Addo-Bawumia administration’s implementation of the Domestic Debt Exchange Programme (DDEP) played a crucial role in securing the relief. He noted that $657 million of the amount would be disbursed within the current fiscal year.
“Looking back at the painful decisions that the Akufo-Addo-Bawumia Administration had to take through the DDEP to realize this almost $3 billion relief, I pray the Mahama Administration would apply the funds to ensure economic growth and achieve debt sustainability,” Ahiagbah stated in a social media post.
He also praised former Finance Minister Mohammed Amin Adam for overseeing the process and commended Ghanaians for enduring economic challenges under the NPP government, asserting that their sacrifices had led to this breakthrough.
“H.E. Akufo-Addo’s service to Ghana continues to bear fruits,” he remarked.
The debt relief is expected to provide fiscal breathing room for the new administration. However, there is growing interest in how the funds will be managed to drive sustainable economic growth.