NPP built buffers to ensure smooth debt servicing, says former Finance Minister

Former Finance Minister Dr. Mohammed Amin Adam stated that the previous New Patriotic Party (NPP) government strategically built buffers in Ghana’s Debt Reserves Accounts to ensure continuous debt servicing.

His remarks follow President John Mahama’s directive to Finance Minister Dr. Cassiel Ato Forson to honor the fourth Domestic Debt Exchange Programme (DDEP) coupon payment.

Dr. Amin Adam argued that the NPP government had already set financial mechanisms in place to support these obligations, emphasizing that no defaults occurred during their tenure.

He detailed that between August 2023 and December 2024, the NPP government paid GH¢17.25 billion in Payment-In-Cash (PIC) and GH¢9.77 billion in Payment-In-Kind (PIK).

He credited the smooth continuation of payments to the previous administration's fiscal planning and suggested that the current government acknowledge this groundwork while managing future debt obligations.