Accra:Former Finance Minister Dr. Mohammed Amin Adam has outlined a set of 13 measures aimed at enhancing transparency, accountability, and market confidence in Ghana's public debt management. He stresses the importance of moving beyond emergency financing towards a predictable and competitive domestic debt market.
According to Ghana Web, Dr. Amin Adam's analysis revealed a significant increase in central-government domestic debt, which rose by GHS55.71 billion from January to July 2026. Additionally, GHS21.8 billion in additional face value was noted across eight DDEP bonds. The analysis also highlighted a reliance on Treasury bills, increased exposure among domestic banks, and GHS111 billion in DDEP principal repayments due in 2027 and 2028.
Dr. Amin Adam cautioned that while Ghana has benefited from external restructuring and the DDEP, these gains could be precarious without improved disclosure and a credible refinancing strategy. He emphasized the need for a transparent debt bridge, longer maturities, reliable statutory payments, competitive pricing, and a market-based approach to maturing debts in 2027-28.
Among the proposed measures is the publication of a monthly security-level debt register detailing opening balances, new issuance, reopenings, redemptions, accrued interest, and closing balances. He also advocated for the disclosure of non-competitive transactions within five business days, reconciliation of debt stock changes, monthly publication of budget execution and arrears data, and the use of competitive auctions as the default borrowing method.
Further recommendations include the coordination of Treasury and Bank of Ghana issuance, strengthening the domestic yield curve, enhancing parliamentary and Auditor-General oversight, correcting debt workbook inconsistencies, and publishing a liability-management framework before any bond switches or buybacks. Dr. Amin Adam also called for monthly reporting of the Sinking Fund, disclosure of the full cost of tax-exempt infrastructure bonds, and updated public-corporation debt figures.
Dr. Amin Adam believes these steps will ensure Ghana's recovery is marked by transparent financing practices and a more robust debt market.