Akufo-Addo Confuses Cause and Effect: The DDEP was the effect, not the cause

In a recent speech delivered in Brussels, President Nana Addo Dankwa Akufo-Addo described the Domestic Debt Exchange Programme (DDEP) as the "darkest moment" of his presidency. That statement would be sobering — if it weren’t so disingenuous. It represents a classic case of confusing cause and effect, a misdiagnosis that distorts the true origins of Ghana’s economic crisis.

Let’s be clear: the DDEP was not the cause of our national economic distress; it was the result. The real cause lies squarely in the poor decisions, misplaced priorities, and failed leadership of President Akufo-Addo himself.

The administration’s persistent appointment of incompetent family members and loyalists to key positions in governance is where the unravelling truly began.

Instead of merit-based leadership, the president chose to surround himself with individuals whose primary qualification seemed to be their proximity to his inner circle — not their ability to govern a modern economy. This nepotistic approach undermined effective decision-making and weakened state institutions from within.

The result? Ballooning debt, unchecked borrowing, reckless expenditure, and a bloated government payroll that the economy simply could not sustain. When the inevitable reckoning came — as it always does in matters of fiscal indiscipline — the government’s response was the DDEP, a measure that inflicted massive losses on pensioners, banks, investors, and everyday Ghanaians.

Yet, in Brussels, the President portrayed the DDEP as an isolated tragedy — a technical hiccup — rather than a self-inflicted wound caused by years of misrule. It is this refusal to confront the root causes of our national predicament that continues to erode public trust.

This administration’s darkest hour wasn’t the DDEP. It was the moment Ghana's governance was handed over to a cabal of unqualified appointees under the guise of loyalty and family ties. That was the true beginning of the collapse.

Leadership is not simply about occupying the highest office; it is about taking responsibility when things go wrong — not blaming the consequences of your failures as though they emerged from nowhere.

The Ghanaian people deserve honesty, not revisionism. We must be vigilant in pushing back against such historical distortions, because the road to national recovery begins with telling the truth — especially when it is inconvenient for those in power.

Acheampong Yaw Amoateng, PhD, Professor Emeritus of Sociology, Catholic University of Ghana, Fiapre, Bono Region.