ABS SAMED WRITES 22-03-2026 : GHANA'S PUBLIC DEBT TREND IN 4TH REPUBLIC
22, 3, 2026
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We are near doom as a nation as the current Government had ballooned our public debt from $49.38 billion dollars to $61.30 billion dollars.In just a year, $11.92 billion dollars had been added without any significant projects to show off but rather, a whole lot of sloganeering such as "Dollar and Fuel is down,Rice and Oil is down" and because of such, "ABAN PAPA ABA".
The "WISE QUESTIONS" all Ghanaians are asking the NDC are, where are the Jobs they promised us?, why aren't some nurses, midwives, teachers, Judicial Service and other public sector workers unpaid salaries for over 14 months?, why is it difficult for them to give the Cocoa farmers a fair share of cocoa price per bag? Why are rents for Makola and Kasoa markets, electricity and water tarrifs going superficially higher?.
Well, your guess is as good as mine as their major flagship programmes such as 24 Hour Economy, Women's Development Bank, and the Big Push that they promised hadn't materialized but, they have squandered whooping sum of monies from the public purse.
The first year in perspective raises a serious threat to Ghana's debt repayment in the future if the debt subsequently surge at this current rate of $11.92 billion dollars a year. We would be likely seeing a total debt increase of $47.68 billion dollars in four (4) solid years.
To cut all comparisons short on how wasteful this government had being comparative to the previous government ,they sold our 18 tonnes of gold reserves at $3500 per ounce to unknown buyers, and wants to buy it back same figure at $5500 per ounce, they have being stabilizing our cedi with $1.2 billion dollars per month and with that have spent not less than $10 billion dollars in doing so, they have as well bought 12 million quantity of sanitary pads at Gh¢45 each with a total cost of Gh¢292.4 million cedis,they have borrowed Ghs17 billion Cedis to pay public sector workers, and as borrowed over Ghs75 billion Cedis from domestic market to pay ripped treasury bonds holders.The most recent reckless spending they want to incur on us as nation is wanting to borrow to buy a private jet worth of $70 million dollars of the Ghanaian tax payer.
In Nana's Addo's first year,he enrolled several significant programmes and projects such as Free SHS, Free TVET, Restoration of Nurses, and Midwives allowances, banning of Galamsey from April,2017 for 20 months, and brought down inflations etc.
It's evident the NDC only played on the emotions of Ghanaians,and lied profusely to dissuade our support base from voting, made them won the 2024's general elections despite our current president John Dramani Manama then former, admitting severally at global media engagements that our predicaments were caused by external shocks i.e Covid -19 and Russia -Ukraine War.
See below our public debt archive since 1980:
1.Jerry Jonh Rawlings left at $7.1 billion in 2000
2.Jonh Agyekum Kufour added less than a billion and left it at $8 billion in 2008(because of HIPC
3.Prof.Evans Atta Fiifi Mills/Jonh Dramani Mahama added $21 billion, and left it at $29.20 billion in December,2026
4.Nana Addo Dankwa Akufo Addo added $20.18 billion and left it at $49.38 billion dollars
5.Again,Jonh Dramani Mahama has added $11.92 in a year to push the debt to $61.30 billion dollars at the end of December,2025.
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