COVID-19 loans were necessary, not reckless – Amin Adam

Former Finance Minister Dr. Mohammed Amin Adam has defended the Akufo-Addo administration's borrowing, stating that loans secured during the COVID-19 pandemic were necessary and should not be considered reckless.

Speaking on The Point of View with Bernard Avle on Channel One TV, he dismissed criticisms of the government’s debt strategy, arguing that responsible debt management requires strategic borrowing and ensuring sustainability.

Dr. Amin Adam also highlighted that all governments inherit and service debts from previous administrations, noting that the Akufo-Addo government cleared obligations from the Mahama era.

He maintained that if the NPP had won the 2024 elections, they would have continued managing Ghana’s debt responsibly, questioning why the current administration is avoiding accountability for fiscal challenges they campaigned to fix.