The immediate past Finance Minister has pushed back against President John Mahama’s claim that he inherited a struggling economy, questioning the basis of Mahama’s call for a national economic dialogue.
Dr. Mohammed Amin Adam speaking on Joy News’ PM Express Business Edition on Thursday, Dr Amin Adam Anta expressed disbelief at Mahama’s characterisation of the economic situation, highlighting the recent positive assessments by international financial bodies.
“This is why, when I hear President Mahama say that he inherited a struggling economy, I worry,” he stated. “He’s calling for a national economic dialogue. I worry. I wonder, where is he from? Was he on Mars?”
The Karaga MP stated that the International Monetary Fund (IMF), an institution Mahama’s government has been engaging with, had already passed judgment on the state of the economy before the transition.
“Just on the second of December, the IMF gave a judgment on our economy. The IMF that they have also been consulting since it came into government. They have been talking to the IMF.
“They have been talking to the World Bank, which on December 2, gave an emphatic judgment about the economy,” he argued.
Reflecting on his tenure at the Finance Ministry, Dr Amin Adam noted that his experience allowed him to gain a deeper understanding of economic policies and the inner workings of the ministry.
“For me, it was a learning experience as well,” he said.
“Having served in the Ministry of Finance as Minister of State, it allowed me to learn first-hand what was happening at the Ministry of Finance, how they did the analysis, how they interpreted this analysis, and also some of the policies they have been pursuing.”
He detailed his contributions, particularly in working with the IMF and handling Ghana’s debt restructuring with Eurobond holders, tasks he described as critical moments in the country’s financial history.
“I did a lot of external work, particularly working with the IMF to implement the IMF program and then also doing the debt restructuring with the Eurobonds. Those were significant moments in the history of our country, and I took them very seriously,” he explained.
Dr Amin Adam also underscored the importance of his international engagements in ensuring Ghana successfully negotiates its financial obligations.
“I benefited from the international experience as well. I talked to many consultants and advisors, both in Ghana and abroad, and I was very happy that eventually, we had a successful negotiation and restructuring of our bonds,” he added.
Highlighting what he saw as the achievements of his tenure, Dr Amin Adam pointed to the smooth implementation of the IMF program, which he described as one of the major success stories of his leadership at the Finance Ministry.
“The implementation of the IMF program has been one of the major success stories of my tenure, going through three successful reviews, the last review being on the second of December,” he noted.
His comments come amid ongoing debates over the actual state of Ghana’s economy, with Mahama’s incoming administration calling for urgent interventions.
However, Dr Amin Adam’s remarks suggest a sharp disagreement with Mahama’s claims, setting the stage for an intense economic policy debate.
