Dr. Mohammed Amin Adam, the immediate past Minister for Finance, has expressed hope that the new administration led by President John Mahama will focus on consolidating the country’s economic recovery rather than engaging in political maneuvering.

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Speaking on Joy News’ PM Express Business Edition on Wednesday, Dr. Amin Adam emphasized the progress made in stabilizing the economy despite external challenges. He cautioned against reversing these gains for partisan reasons.

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“I do not disagree that the economy was the major issue on the ballot because we all knew that the economy was difficult,” he admitted.

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“But as I explained, it wasn’t only the Ghanaian economy. Most incumbents across the world who went through elections around the same time lost, so it wasn’t peculiar to Ghana. The economy really dominated the political debate.”

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Defending the previous administration’s handling of the economic downturn, he pointed out that external factors played a major role in the crisis and that Ghana managed to recover faster than anticipated.

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“If you look at the data from 2022 to 2023 and then 2024, you will see that the turnaround was quick. The recovery was faster than even anticipated by the World Bank, IMF, and many economic analysts, even in Ghana,” he explained.

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“We were of the view that once the economy had turned around, the recovery was swift. Conditions were improving. We were getting stability—macro stability—which is a condition for economic growth.”

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Dr. Amin Adam highlighted that Ghana’s ability to sustain positive growth during a period of debt restructuring was a testament to the resilience of the economy.

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“Even after doing a debt restructuring—where countries that have done restructuring usually record negative growth—we were recording an average of about 6.4% last year,” he stated.

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“It just shows that the economy was turning to positive levels, which, when sustained, could really reduce the suffering and economic hardship faced by the people.”

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While acknowledging that Ghanaians voted for change in the last election, he urged the Mahama administration to build on the foundation laid by its predecessors rather than dismantle it for political reasons.

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“The Ghanaian people decided that they wanted a change, and this is why I expect the new government to sustain the gains that we have made so that they translate into tangible benefits for the people,” he said.

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“But if you come in to do politics as usual, you lose the point, and you are not really able to sustain those gains. And this is what I’ve seen President Mahama doing.”

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