Former President John Dramani Mahama has criticized the current Akufo-Addo administration for burdening the Ghanaian youth with massive loans that have been accumulated over the years. During a gathering in the North East Region as part of his building Ghana tour, Mr. Mahama expressed his concern about the future of the youth in the face of mounting debts.
He pointed out that while in 2016, each Ghanaian would have had to pay 4000 Cedis if the national debt was divided among the citizens, the current situation is much direr. Now, every individual in Ghana would owe a staggering 20,000 Cedis if the debt were to be shared equally. This alarming increase in debt has raised serious questions about the sustainability of the country’s financial situation.
Mr. Mahama specifically called out the government for borrowing 13.5 billion Dollars through Eurobonds in just six years, with little to show for it in terms of development projects. He highlighted the lack of visible infrastructure improvements in the North East region despite the massive borrowing, raising concerns about the efficiency and transparency of the government’s spending.
The former President warned that the youth of Ghana would ultimately bear the brunt of these debts, as they would be the ones responsible for paying off the loans in the future. With Ghana currently owing a staggering 650 billion Cedis, Mr. Mahama questioned who would be held accountable for this massive debt and emphasized the need for fiscal responsibility and prudence in managing the country’s finances.
As the debate over Ghana’s mounting debt levels continues to escalate, it is clear that the issue of financial sustainability and accountability will be a key factor in the upcoming political discourse. The future of the Ghanaian youth hangs in the balance, and it is crucial for the government to address these concerns and ensure a stable and prosperous future for the next generation.
