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Former Finance Minister Criticizes President Mahama’s National Economic Dialogue Initiative

Accra, Ghana – January 27, 2025 – Former Minister for Finance, Dr. Mohammed Amin Adam, has condemned President John Dramani Mahama’s decision to set up a planning committee for a National Economic Dialogue, labeling it as an unnecessary distraction and a sign of the President’s lack of a clear economic strategy.

Dr. Amin Adam expressed his concerns on Monday, asserting that the initiative is designed to divert attention from the President’s failure to deliver on campaign promises and to defend claims of inheriting a struggling economy.

“The President doesn’t need a dialogue to grasp the realities of the Ghanaian economy,” Dr. Amin Adam remarked. “This dialogue is nothing more than an effort to mask his lack of a concrete economic plan and to justify unsubstantiated claims about inheriting a weak economy.”

Economic Fundamentals Show Strength

Citing robust economic indicators, the Karaga MP dismissed the need for the dialogue, arguing that Ghana’s economy is on a solid recovery path. He highlighted key metrics, including:

  • International Reserves: $9 billion as of December 2024, covering four months of imports, exceeding the IMF’s three-month target.
  • GDP Growth: An average rate of 6.4% in 2024.
  • Trade Balance and Current Account: Both in surplus.
  • Fiscal Deficits: Reduced compared to previous years.

“These figures demonstrate that the economy’s fundamentals are strong and recovery is accelerating,” Dr. Amin Adam stated.

Criticism of NDC’s Economic Approach

Dr. Amin Adam argued that President Mahama should have been well-informed about the state of the economy before making campaign promises, questioning the relevance and effectiveness of the planned dialogue.

He recalled a similar National Economic Dialogue held by the NDC government in 2014, which he described as ineffective. “What became of the 2014 dialogue? The recommendations were ignored, and the economy was mismanaged, leading to an IMF bailout that they couldn’t complete before leaving office in 2016,” he said.

Calls for Accountability

The former Finance Minister urged Ghanaians to hold the President accountable for his campaign promises, pledging that Parliament will rigorously scrutinize the upcoming 2025 Budget Statement.

“This dialogue is merely a distraction,” Dr. Amin Adam concluded. “The people of Ghana deserve practical solutions and decisive leadership, not a committee with recommendations that may never be implemented.”

Dr. Amin Adam’s remarks underscore the ongoing political and economic debate in Ghana, as the government faces heightened scrutiny over its plans to navigate the country’s economic future.

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