Former Deputy Finance Minister Dr. Stephen Amoah has asserted that the National Democratic Congress (NDC) government deserves no credit for the ongoing stabilization of Ghana’s macro-economy, describing current gains as the direct outcome of policies left behind by the previous New Patriotic Party (NPP) administration.
Speaking to journalists in Parliament, the Nhyiaeso lawmaker argued that key indicators, including falling inflation rates and foreign exchange stability, are the result of structural interventions established under the IMF Extended Credit Facility (ECF) program negotiated during the NPP’s tenure.
Legacy Measures vs. Current Management
Dr. Amoah dismissed claims by government communicators that current executive decisions have driven the recent economic turnaround, maintaining that the current administration inherited a solid foundation already trending toward recovery.
“Honestly speaking, the economy is doing well, but the NDC government and its whole executive body have done virtually nothing to generate what we are experiencing,” Dr. Amoah stated. “Look at the inflows and the market stabilization—they are underpinned by measures put in place previously. The current government has contributed nothing to these specific outcomes.”
The former deputy minister pointed to GDP growth figures and the drop in inflation from its peak levels as evidence that policy lag favors the groundwork laid by the prior administration. He insisted that economic management relies on long-term fiscal discipline and econometric modeling rather than short-term administrative claims.
Opposition Urges Fiscal Discipline
Dr. Amoah warned the government against taking unearned victory laps, advising the Ministry of Finance to focus on maintaining strict expenditure controls rather than altering existing structural reforms.
He cautioned that disrupting the policy framework designed under the previous administration could destabilize the cedi and reignite inflationary pressures, urging the current executive team to acknowledge past contributions while managing public resources responsibly.
