An Economist at the University of Ghana, Professor Lord Mensah, has said an apology does not solve an economic problem and bring restoration to the economy.

According to him, he was badly affected by the Domestic Debt Exchange, therefore, a mere apology from the finance minister does not effectively solve the problem.

His comments come after the finance minister rendered an apology to Ghanaians for the effects of the DDEP on the economy.

On his Twitter page, he wrote: “Yet to see an economic parameter called apology. I suffered a haircut under the DDEP, and I prefer a prolonged economic restoration to an apology. Economic restoration would rather grow my investment than an apology. Anyway, democracy builds and destroys economies for all.”

During a town hall meeting on August 6, 2024, Dr Mohammed Amin Adam pleaded with Ghanaians to forgive the government for the hardships that have plagued the country as a result of the debt restructuring programme.

“We decided to restructure our debts because it was one of the requirements by the IMF. We started with the domestic debt exchange programme; the domestic debt exchange programme was very successful, achieving 95 percent participation. On this note, I would like to appeal to the people of this country to forgive us.

“It is never the intention of any government to impose hardships on its people, more so the NPP government that has demonstrated that we want to reduce the burden of the Ghanaian people,” he noted.

He added “It was a necessary, important decision at the time. If we had avoided it, our development or economy would not be what it is today. All the support you gave us during the DDEP has contributed largely to the recovery our economy is seeing today.

“This is why I want to appeal to you to forgive us but also to thank you on behalf of the president for the sacrifices, for the efforts that you all have made to participate in the DDEP,” he added.

SSD/NOQ

See the tweet below

Yet to see an economic parameter called apology. I suffered a haircut under the DDEP and I prefer a prolonged economic restoration to an apology. Economic restoration would rather grow my investment than an apology. Anyway, democracy builds and destroys economies for all.

— The Prof (@stigue2001) August 10, 2024