We Have Been Borrowing To Settle Your Debts - Government To Mahama

We Have Been Borrowing To Settle Your Debts - Government To Mahama



The government has defended its borrowing over the years saying the monies are to settle debts incurred by the erstwhile Mahama administration. According to the government, borrowing in the covid era is being done by many countries across the world and it is only in Ghana that borrowing has been made political matter. Ghana’s


current debt stock stands at over GHC300 billion, with the IMF warning the country to put measures in place to reduce the debts. John Mahama during an economic forum organized by the opposition Monday, September 7 said the NPP must be voted out to protect the public purse. When I called for a change in government in the



2024 as the first step towards halting this hemorrhage of badly needed resources through corruption and also holding offending officials to account, our friends in the government took offense but it remains the only viable way to save the public purse in the face of abundant evidence that nothing will also be ever done about the



situation, Mr Mahama said. But speaking to the media, deputy finance minister John Kumah said if he talks about increases in borrowing, yes we have seen that but much of this borrowing went to address the debts he [John Mahama] left behind, the take or pay contracts he signed in the energy sector and the billions that we have



paid. We spent about 25 billion cedis trying to save the banks. So, if we have borrowed then we have borrowed because he plunged this country into a very difficult situation that we needed to redeem. And that we have done and have shown competence in the management of this country. He added that it’s only Ghana that we are making borrowing in the covid era a political matter