Dr. Cassiel Ato Forson, Minister of Finance
The Minister of Finance Dr. Cassiel Ato Forson has criticised the New Patriotic Party (NPP) for what he describes as their inability to service Eurobonds and other debts.
According to him, the NPP is the only party since the inception of the Fourth Republic to have defaulted on debt servicing and the payment of domestic bonds to bondholders.
Speaking to Accra-based TV3 on March 14, 2025, Dr. Ato Forson stated that the NPP cannot be applauded for the decline in debt levels, as this was merely a result of their failure to honor matured bond payments.
“For the first time, no government in this Fourth Republic has ever defaulted on servicing Eurobonds. Unfortunately, the NPP now holds that record, the record of default,” he said.
“In fact, in Ghana’s history, no government has ever defaulted on the payment of domestic bonds. Once again, the NPP has set this negative precedent. So if they claim that because we implemented haircuts and defaulted on debt servicing, the debt has decreased and we should applaud them, that is unfortunate,” he added.
The Finance minister further noted that the country currently faces a mounting debt of $8.7 billion to service, which he attributed to the poor economic management of the previous NPP administration.
NPP is the only party with a record of Eurobond default and debt servicing failure – Finance Minister, Cassiel Ato Forson#3NewsGH pic.twitter.com/KIpE06uCoi
— #3NewsGH (@3NewsGH) March 14, 2025
SP/MA
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