The Minister for Defence, Dr. Edward Omane Boamah, has accused the New Patriotic Party (NPP) of plunging Ghana into a severe economic crisis, describing their eight years in power as a period of reckless financial mismanagement.
He pledged that the administration of President John Dramani Mahama is committed to fixing the damage.
Dr. Omane Boamah in a Facebook post on Friday, 21, highlighted that the current economic challenges were not unforeseen but were the result of deliberate and unchecked borrowing by the NPP government, which he had warned about as far back as 2019.
According to him, at the time, he cautioned against the rapid rise in Ghana’s debt, stating that the country’s true debt levels were much higher than officially reported. He said despite these warnings, the previous administration ignored calls for fiscal restraint, setting the stage for what has become a national economic crisis.
He noted that even before the COVID-19 pandemic, the NPP’s management of the economy had already shown signs of collapse. By 2019, the country’s debt trajectory had spiraled out of control, with hidden liabilities and unaccounted debts worsening the situation.
This mismanagement, according to the Minister, has now consumed the investments of many Ghanaians, including pensions and middle-class savings, leaving the nation grappling with a monumental financial burden.
Dr. Omane Boamah described the financial revelations from the recent cabinet meeting as heartbreaking, exposing the true extent of the economic damage caused by the NPP administration. However, he assured Ghanaians that the new government is resolute in its efforts to repair the economy and restore hope.
With President Mahama at the helm, he expressed confidence in the administration’s ability to steer the country back to stability, stating that rebuilding Ghana is a shared responsibility. The government, he stressed, is ready to implement strategic measures to fix the economic mess and provide relief for all Ghanaians.