Prof. Bokpin credits NPP for building reserves, backs Mahama’s fiscal discipline

Economist and University of Ghana Business School professor, Godfred Bokpin, says the previous NPP administration deserves credit for building Ghana’s international reserves despite its shortcomings.

“We need to give credit to the previous NPP administration for building our reserves,” Prof. Bokpin stated on The Key Points on TV3, Saturday, July 26. While acknowledging areas where the former government fell short, he noted that their efforts contributed to macroeconomic stability.

On infrastructure, Prof. Bokpin was more critical. He cautioned that listing road projects in the budget without releasing funds for execution is merely rhetorical.

“Until you see commitment, cash flow disbursal, it’s not going to happen,” he said in reference to the numerous roads mentioned in the 2025 Mid-Year Budget Statement by Finance Minister Dr. Cassiel Ato Forson.

The projects include major road upgrades such as the Kasoa–Winneba, Ofankor–Nsawam, and Suame Interchange among others.

Despite the skepticism, Prof. Bokpin lauded the Mahama administration’s current economic strategy, stating that they have shown more leadership and fiscal discipline than their predecessors.

“It looks to me this government has listened adequately to the direction the economy needs to take,” he said. He added that the present team has room to take credit for the ongoing economic rebound, noting significant fiscal cuts not seen in Ghana’s recent history.

Political Science lecturer Dr. Joshua Jebuntie Zaato also weighed in, urging the Mahama administration to take full responsibility for the economy.

“This economy is now Mahama’s. They should stop blaming the past government,” he said, describing the administration’s messaging as inconsistent. While the government criticizes its predecessor publicly, it acknowledges their contributions in discussions with the IMF, he noted.

Dr. Zaato emphasized the need for honest communication and a unified message, especially as the current government pushes its structural reform agenda.

Finance Minister Ato Forson previously accused the Akufo-Addo administration of poor economic management and blamed the central bank for excessive inflation. However, he assured Ghanaians that President Mahama is committed to reforms and recovery.