Ato Forson: Akufo‑Addo Govt Mismanaged Devastating DDEP
Dr. Cassiel Ato Forson, Ghana’s Finance Minister and Minority Leader, alleges that the Akufo‑Addo/Bawumia government mismanaged the Domestic Debt Exchange Programme (DDEP), creating a legacy of crippling debt, inflated advisory fees, and banking sector collapse. 🔍 What We Found Forson warned that Ghana inherited GHS 150.3 billion in domestic debt obligations under the DDEP, with repayments looming between 2027 and 2028 that significantly strain fiscal capacity. He described this fiscal burden as having devastating economic consequences. He also revealed that the DDEP eroded Ghanaian banks’ capital, hampering credit flow to businesses—a clear indicator of the programme’s destabilising financial impact. Forson accused the administration of awarding transaction advisory contracts worth over US$159 million to a select few, while national debt soared—suggesting systemic mismanagement and profiteering. Expert Insight Analysts highlight that strategic missteps in implementing DDEP inflicted long‑term damage on Ghana’s banking sector and credit availability. […]