Ranking member on Parliament’s Finance Committee has criticised the Finance Minister, Dr. Mohammed Amin Adam for claiming that the current government has outperformed the National Democratic Congress (NDC) on economic matters.
In an interview on Joy FM’s Top Story on Monday, June 24, Isaac Adongo expressed his shock at the Minister’s celebration of what he described as a “bankrupt status.”
“You are celebrating the fact that you have received a certificate that clearly declares you as a bankrupt country. Who celebrates a bankrupt certificate? Who celebrates the fact that it is now clear and crystalised that you are a man of straw and you cannot pay your debt? And you are saying that on the basis of that bankruptcy status, you are better than the previous government. How do you make that comparison?”
The Bolgatanga Central MP comments come after Dr Amin Adam expressed confidence that the government has outperformed the NDC on economic metrics, adding the NPP’s economic performance leaves the NDC with little to boast about in their 2024 election campaign.
He argued that once the government declared bankruptcy, meaningful comparisons of debt, debt accumulation rate, and debt-to-GDP ratios between the current and previous administrations became irrelevant.
The lawmaker emphasised the importance of maintaining sovereignty, which he described as crucial for gaining trust and securing loans from other countries.
“You entered into an agreement with people, took their money, and had the trust that your government would fulfill that. You went back to them and said I was deceiving you, there is no way I can pay you, and you are comparing that to a government that kept our sovereignty intact,” Mr Adongo remarked.
He asserted that the NDC government managed to service its debt, grow the economy, and stabilise the cedi simultaneously.
Mr Adongo further stressed that the government should be focusing on an aggressive programme to ensure that money saved is used to build financial buffers. This would ensure that resources are available to service debt when necessary.
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