Finance Minister Defends Government’s Borrowing, Says Net Debt Stands at GHS 7.1 Billion
Finance Minister Dr. Cassiel Ato Forson has addressed concerns over the government’s borrowing, clarifying that the net borrowing under the Mahama administration amounts to GHS 7.1 billion.
In a post on X, Dr. Forson explained that the borrowing primarily serves as a buffer to settle maturing debts inherited from the previous New Patriotic Party (NPP) government led by President Akufo-Addo and Vice President Dr. Mahamudu Bawumia.
“For the record, total T-Bill bids received by the Mahama government since January 10, 2025, stand at GHS89.7 billion,” Dr. Forson stated.
According to him, of this amount, GHS59.5 billion in T-Bill bids were accepted as rollovers to refinance existing debt, while GHS30.2 billion worth of bids were rejected.
The Finance Minister stressed that, due to prudent public debt management, the actual debt accumulation under the Mahama administration is nearly zero.
He noted that these prudent measures have contributed to a significant decline in the 91-day T-Bill rate from 28.34% to 20.79% within just 50 days, indicating increased investor confidence in Ghana’s economy.
Dr. Forson urged the public to disregard criticisms of the government’s borrowing strategy and instead focus on the positive economic impact of its financial policies.
