Economist Dr Sa-ad Iddrisu, has strongly questioned former Finance Minister, Dr Mohammed Amin Adam’s recent assessment of Ghana’s economic situation, asking which version of the economy the minister was referring to in his remarks.
In a pointed statement, Dr Iddrisu, criticized what he described as severe financial mismanagement under the New Patriotic Party (NPP) government, citing concerns about external debt obligations, the energy sector, and incomplete healthcare infrastructure projects.
“Are you referring to the economy where your government left only $64,000 in the external debt service account, despite knowing that our external debts were due soon and that the incoming government would need millions of dollars to meet those obligations?” he asked.
He further condemned the NPP administration’s handling of the energy sector, revealing that the sector accumulated over $2 billion in debt, placing the Electricity Company of Ghana (ECG) at the risk of collapse.
He argued that this amount could have been better utilized to complete and operationalize 22 hospitals, instead of leaving critical health facilities unfinished.
Dr Iddrisu’s remarks come amid ongoing debates over Ghana’s economic trajectory. While the opposition NPP defends its record, critics and analysts point to rising debt levels and stalled development projects as indicators of poor economic management.
At a Minority Caucus press conference in Accra on Monday, March 3, dubbed, the “True State of the Nation Address,” Dr Amin Adam, claimed that Ghana’s current exchange rate stability was due to the substantial international reserves left behind by the Akufo-Addo administration. He argued that these reserves have played a crucial role in stabilizing the Ghanaian cedi.
However, Dr Iddrisu, also criticized the government’s flagship Agenda 111 hospital project, alleging that despite an expenditure of over $400 million, not a single hospital had been completed.
His comments add to the growing concerns over the government’s economic stewardship and its impact on essential national projects.