President-elect John Mahama has refuted claims by Finance Minister Dr Mohammed Amin Adam that the New Patriotic Party (NPP) administration is leaving behind a resilient and recovering economy.

Mr Mahama described the assertions as a gross misrepresentation of the true state of Ghana’s financial standing.

Dr Adam had earlier emphasised what he characterised as significant strides in economic recovery, despite global and domestic challenges faced in recent years.

He painted a picture of progress during his remarks this week, lauding the outgoing administration’s fiscal management.

However, during a courtesy call on the Canadian High Commissioner to Ghana, Myriam Montrat, in Accra, Mr Mahama dismissed these claims.

He argued that the country’s economic reality was far worse than portrayed, with substantial debts threatening to undermine any perceived progress.

“The energy sector needs urgent intervention, or it risks collapsing everything,” Mahama said. “When the Minister of Finance claims the economy is turning around, we are staring at a $2.5 billion debt, while their bailout is only $3 billion. That $2.5 billion liability alone is enough to undo any progress made.”

He further criticised the outgoing government for promoting what he described as an overly optimistic narrative of economic recovery to bolster its legacy.

He reaffirmed his administration’s commitment to transparency, stating that it would "open the books" upon assuming office to reveal the actual state of the economy to Ghanaians.

He stressed that an honest assessment would enable citizens to understand the tough decisions required to restore economic stability and sustainable growth.