The Minister of Finance, Dr. Mohammed Amin Adam, has apologised to Ghanaians for the hardships they are experiencing due to the Domestic Debt Exchange Programme (DDEP).

His comments come after Assin Central MP Kennedy Agyapong advised members of the ruling New Patriotic Party (NPP) to admit their mistakes in the management of the economy and apologise to Ghanaians. 

Similarly, Obuasi West MP Kwaku Kwarteng, recently suggested that the NPP acknowledge past and present failures to help the party sell its re-election bid and "break the 8".

During a town hall meeting in Accra on Tuesday, August 6, 2024, Dr. Amin Adam explained that the DDEP was a requirement set by the International Monetary Fund (IMF), making its implementation necessary. 

He assured that it was never the government’s intention to impose hardships on Ghanaians.

Dr. Amin Adam emphasised the critical need for debt restructuring to stabilise the economy. 

He noted that while the programme has caused difficulties, it is essential for the country's long-term financial health.

Dr Amin Adam also expressed appreciation to Ghanaians for their support and understanding during this challenging period. He acknowledged the resilience and patience of the citizens, emphasising that their sacrifices were not in vain.

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The Minister reiterated the government's commitment to mitigating the negative impacts of the DDEP and working towards economic recovery. 

The lawmaker called for continued cooperation from the public as the government navigates these difficult times, promising that their efforts would eventually lead to better economic stability and growth.

“We decided to restructure our debts because it was one of the requirements by the IMF. We started with the Domestic Debt Exchange Programme, the DDEP was a very successful programme, achieving 95% participation. And on this note, I would like to appeal to the people of Ghana to forgive us, forgive us."

“It is never the intention of any government to impose hardships on its people. More so, the NPP government has demonstrated that we want to reduce the burden on the Ghanaian people."

“It was a necessary, very important decision at the time, that if we had avoided it, our economy would not recover as it has recovered today. The decisions we made, and all the support you gave us during the DDEP have contributed largely to the recovery our economy is seeing today."

“This is why I want to appeal to you to forgive us. But also to thank you on behalf of the president for the sacrifices, for the efforts that you all have made participating in the DDEP that saved our economy,” the Finance Minister said.