Sophia Akuffo Applauds President Mahama’s Commitment to the Rule of Law
Former Chief Justice and esteemed member of Ghana’s Council of State, Sophia Akuffo, has publicly commended President John Dramani Mahama for his unwavering adherence to the law in handling bondholders’ payments. Her remarks follow the President’s decision to honor contractual agreements with bondholders, a move she describes as a testament to his dedication to the rule of law.
This development comes after the Ministry of Finance, under President Mahama’s directive, settled the Payment-In-Cash (PIC) coupon of GH¢6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders on February 17.
A Stand for Justice: Akuffo’s Perspective
In an interview with journalists after her swearing-in as a Council of State member on February 18, Akuffo emphasized the importance of respecting legal commitments. She stated, “The president’s action was in perfect order and following the law. My stance was not about personal gain but about upholding the sanctity of contracts.”
Akuffo recalled her participation in a protest at the Finance Ministry during the Akufo-Addo administration, where bondholders were promised certain terms only to have them abruptly changed. She described this as an attempt to impose new conditions on bondholders, which she firmly opposed.
Respecting Contracts: A Hallmark of Good Governance
Akuffo expressed her satisfaction with President Mahama’s decision, noting his respect for legal and financial commitments. “The state had promised me something, and I made my money available. Suddenly, they wanted to change the terms and force new conditions on me. No. That would never be acceptable. I’m happy the president has shown he’s a law-abiding leader,” she emphasized.
Her comments underscore the importance of trust and transparency in governance, particularly in financial matters affecting citizens and investors.
Why This Matters for Ghana’s Economy
President Mahama’s decision to honor bondholder agreements reinforces confidence in Ghana’s financial systems and strengthens the country’s reputation among international investors. By adhering to contractual obligations, the government demonstrates its commitment to stability and reliability, which are crucial for economic growth.
For more insights on Ghana’s economic policies, visit Ghana Ministry of Finance.
Building a Transparent Future
Sophia Akuffo’s commendation serves as a reminder of the importance of upholding the rule of law in governance. As citizens, we must continue to hold our leaders accountable and advocate for transparency in all financial dealings.
Join the conversation on good governance and share your thoughts on how Ghana can further strengthen its commitment to the rule of law.