Almost eight years after handing over power to the ruling New Patriotic Party (NPP), John Mahama says Ghana’s debt to external creditors has quadrupled.
According to the National Democratic Congress’ flagbearer, this debt, along with rising unemployment, has further exacerbated the plight of ordinary Ghanaians.
Ghana's ballooning debt stock has raised concerns among economists, sparking fears about the nation's financial sustainability and debt management even for successive governments.
With the debt at GH₵742 from GH₵680 billion in 2023, the experts warn that without strategic interventions and prudent fiscal policies, Ghana’s economic gains especially under the International Monetary Fund could be ruined.
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