Virgin Blogger Blog of Tuesday, 18 March 2025
Source: Christopher A. Ranson
Dr. Mohammed Amin Anta, the immediate past Minister of Finance and the current Ranking Member of the Finance Committee of Parliament, has been vocal about Ghana’s economic trajectory, highlighting the gains made in stabilizing the economy. However, in all his public statements and engagements, one name has been glaringly absent: Ken Ofori-Atta.
For someone who took over as Finance Minister in March 2023, Amin Anta is benefiting from the very policies Ken Ofori-Atta put in place—the same policies that stabilized the economy and laid the foundation for the growth the NDC is now attempting to downplay.
The Inconvenient Truth: Ken Ofori-Atta Rescued Ghana’s Economy
Ken Ofori-Atta’s tenure as Finance Minister was far from perfect, but his role in rescuing Ghana from total economic collapse cannot be ignored. His leadership was the firewall between Ghana and financial ruin, yet today, those who are reaping the benefits of his decisions are refusing to acknowledge him.
Here’s what Amin Anta is failing to admit:
1. Ghana’s Economic Recovery Did Not Begin in 2024—It Began with Ken’s Bold Decisions
• When Ghana was on the brink of default, it was Ken Ofori-Atta who led the debt restructuring negotiations, ensuring that Ghana remained solvent.
• His efforts secured critical IMF support, preventing the country from financial disaster.
• The 2024 GDP growth of 5.7%—the highest in five years—was a direct result of policies that Ken championed, not Amin Anta .
2. The IMF Program Was Designed Under Ken Ofori-Atta
• Amin Anta has repeatedly cited Ghana’s improved debt sustainability and macroeconomic stability.
• However, the IMF program that enabled this recovery was designed and negotiated by Ken Ofori-Atta, not Amin Anta.
• The IMF’s third program review praised Ghana’s progress, yet Amin Anta has avoided crediting the architect of that progress .
3. Debt Management and Fiscal Stabilization Began Before Amin Anta Took Office
• Under Ken Ofori-Atta, Ghana’s Debt-to-GDP ratio fell to 61.8% in 2024, lower than pre-COVID levels.
• He spearheaded the Eurobond restructuring, preventing Ghana from defaulting on its external obligations .
• His fiscal consolidation strategies, despite political opposition, ensured Ghana’s economic stability in the long run.
4. Amin Anta is Benefiting from Ken’s Hard Work
• Many of the fiscal policies that Amin Anta is advocating today were already set in motion by Ken Ofori-Atta.
• The stable economic conditions Amin is boasting about did not happen overnight—they are the result of painful but necessary reforms Ken implemented.
⸻
The Politics of Silence: Why Won’t Amin Anta Acknowledge Ken?
It is clear that Amin Anta’s silence on Ken Ofori-Atta’s contributions is a political strategy. Admitting that Ken laid the groundwork for Ghana’s recovery would contradict the NDC’s long-standing propaganda that the NPP “destroyed” the economy. By erasing Ken from the narrative, Amin Anta is trying to take credit for a recovery he did not start.
But the facts cannot be ignored:
• Ken took the economy through its most difficult phase, making hard choices to secure long-term stability.
• Amin Anta is merely managing an economy that Ken stabilized.
• By refusing to acknowledge Ken’s role, Amin Anta is engaging in dishonest politics rather than honest governance.
⸻
Ghana Needs Honest Leadership, Not Selective Credit-Taking
The failure of Amin Anta and the current government to recognize Ken Ofori-Atta’s contributions reflects a larger problem in Ghanaian politics: the refusal to acknowledge those who laid the foundation for success simply because they belong to the other political side.
• Yes, Ken made mistakes, but his overall economic leadership rescued Ghana from collapse.
• Amin Anta’s continued silence is disappointing, especially given that he is benefiting from the reforms Ken implemented.
• Ghanaian politics must move beyond partisan blame games and give credit where it is due.
History will remember Ken Ofori-Atta as the Finance Minister who took the hardest punches, made the most difficult choices, and stabilized Ghana’s economy during its darkest days. No amount of political silence can change that.