Former Minister for Finance, Dr Mohammed Amin Adam, has sharply criticized President John Dramani Mahama’s decision to establish a planning committee for a National Economic Dialogue, describing it as a misplaced priority aimed at concealing his lack of a coherent economic strategy for Ghana.
Speaking in response to the announcement on Monday, January 27, 2025, Dr Amin Adam argued that the dialogue is unnecessary and a diversionary tactic to whitewash what he termed “numerous non-existing claims” made by the President about inheriting a struggling economy.
“The President doesn’t need a dialogue to understand the context of the Ghanaian economy,” Dr. Amin Adam stated. “At the least, this dialogue is intended to cover up the President’s lack of an economic plan for the country and to whitewash his baseless claims about inheriting a bad economy.”
He asserted that the current state of Ghana’s economy does not warrant such an initiative, as the fundamentals show clear signs of recovery and growth.
Highlighting key economic indicators to buttress his point, the Karaga MP pointed to international reserves of $9 billion as of December 2024, which cover four months of imports – one month more than the three-month target set by the International Monetary Fund (IMF). He also noted an average GDP growth rate of 6.4%, surpluses in both the trade balance and current account, and reduced fiscal deficits recorded in 2024.
“These figures show that the fundamentals of the economy are strong and that we have entered a phase of accelerated recovery,” he remarked.
The former Finance Minister criticized the President’s approach, suggesting that Mr. Mahama should have understood the state of the economy before making campaign promises. He also questioned the relevance of the dialogue, expressing doubts about its outcomes based on past experiences.
“This is not the first time the NDC government has held a National Economic Dialogue,” Dr. Amin Adam said. “They did the same in 2014 after winning the 2012 elections. What became of it? They failed to implement the recommendations and instead mismanaged the economy, leading to an IMF programme which they couldn’t complete by the end of 2016.”
He urged Ghanaians to hold President Mahama accountable for the promises he made during his campaign. Dr. Amin Adam assured that Parliament, as the representative of the people, is ready to scrutinize these promises when the 2025 Budget Statement is presented.
“This dialogue is a diversion,” he said. “The Ghanaian people deserve real leadership and practical solutions, not an attempt to shift responsibility to a committee whose recommendations may never see the light of day,” he concluded.
