Ghana News & Trends

Ghana owes GHS650 billion but someone is celebrating his 80th birthday who will come and pay – Mahama

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Former President John Dramani Mahama, the National Democratic Congress (NDC) flagbearer for the upcoming 2024 elections, has criticized the current government led by President Akufo-Addo for what he deems as lack of development despite massive borrowing.

Speaking during his tour of the North East region, Mahama accused the government of burdening the youth of Ghana with a significant amount of debt that they will have to bear in the future. He pointed out that if the debt was to be divided among the population, each person would owe GHC 20,000.

Mahama also highlighted the issue of the Eurobond, stating that the Finance Minister borrowed $13.5 billion in just six years. However, he questioned the lack of visible development projects such as highways, bridges, hospitals, schools, and other infrastructure that should have been initiated with such a large sum of money.

He emphasized that the borrowed funds have not been put to good use and that the country’s youth will ultimately be the ones to bear the brunt of these debts. Mahama noted that Ghana’s current debt of GHC 650 billion will have to be repaid by the younger generation, as the older generation will not be able to settle it.


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