Former NPP running mate Dr Matthew Opoku Prempeh has praised the decision by former President John Agyekum Kufuor’s administration to pursue debt relief under the Heavily Indebted Poor Countries (HIPC) initiative, describing it as a courageous step that helped put Ghana’s economy on a path to recovery.
Speaking at the 2026 Busia Institute Lecture, Dr Prempeh reflected on Ghana’s economic history and drew a connection between the political legacy of former Prime Minister Kofi Abrefa Busia and the economic challenges inherited by the Kufuor administration.
According to him, years after Busia faced political consequences for what he described as telling Ghanaians the truth about the country’s currency and economy, another government from the same political tradition inherited a struggling economy.
He said the Kufuor administration took over at a time when the cedi was in free fall and the country’s finances were severely constrained, eventually opting to seek relief through the HIPC programme.
Dr Prempeh argued that although the decision attracted criticism at the time, it was ultimately an important step that created the conditions for economic recovery.
“A decade later, that courageous decision laid a foundation for the economy’s recovery,” he said.
The former Energy Minister used the occasion to highlight what he considers the long-term significance of the policies implemented under Kufuor, particularly the decision to pursue international debt relief despite the political and public debate surrounding HIPC.
His comments form part of a broader reflection on the economic legacy of the Busia political tradition and its approach to difficult economic decisions.
The 2026 Busia Institute Lecture brought together political and public figures to reflect on Ghana’s political history, economic management and the enduring ideas associated with the Busia tradition.
