Former Minister of Finance, Dr. Mohammed Amin Adam
The Minority in Parliament has raised concerns over the government’s decision to reopen the bond market, describing it as ill-advised and risky for Ghana’s economy.
Addressing the press on Thursday, March 13, 2025, regarding the 2025 budget, former Minister of Finance Dr. Mohammed Amin Adam warned that the government’s move to return to the domestic bond market is poorly timed and could have severe consequences for the country’s fiscal stability.
During the 2025 budget presentation, Finance Minister Dr. Cassiel Ato Forson announced that the government is taking steps to reopen the domestic bond market to extend its maturity profile.
Reacting to this, Dr. Amin Adam raised concerns about the timing of the decision.
“It’s surprising. Nevertheless, notwithstanding the improvement in the debt environment, the minister’s announcement to re-enter the bond market is poorly timed and ill-advised,” he said.
He further stated that the government’s approach exposes Ghana to higher borrowing risks, which are already negatively impacting the economy.
“The timing of the minister’s announcement to reopen the bond market coincided with the revelation of an elevated fiscal deficit based on manipulated data—a condition that increases the country’s borrowing risks.
“The effects of this unfortunate data manipulation are already hitting our economy. Since the budget presentation, Ghana’s sovereign bond spreads have widened, nearing 700 basis points, as a direct consequence of the government’s attempt to present erroneous data for political gain,” he added.
SP/MA
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