During the 2025 Mid-Year Budget Review in Parliament on July 24, 2025, Finance Minister Dr. Cassiel Ato Forson blamed the former Akufo-Addo administration’s “gross mismanagement” of public finances for the economic hardship caused by the Domestic Debt Exchange Programme (DDEP).
He described the DDEP, which led to significant losses for bondholders, as a necessary response to the previous government’s fiscal recklessness.
“The mismanagement by the prior administration resulted in devastating haircuts through the DDEP, stripping pensioners and the middle class of their lifetime savings, livelihoods, and dignity,” Dr. Forson told Parliament.
He emphasized the severe human toll, noting that many Ghanaians who invested in government securities suffered major losses, eroding trust in the financial system.
Dr. Forson pledged that the current administration is focused on restoring fiscal discipline, rebuilding confidence in government securities, and preventing future disruptions.
He urged bipartisan support for reforms to ensure long-term stability and inclusive economic recovery.
