Concerns regarding the government’s borrowing have been addressed by Finance Minister Dr. Cassiel Ato Forson, who has emphasized that the Mahama administration has borrowed a total of GHS7.1 billion.
Dr. Forson emphasized that the main purpose of this borrowing is to provide a buffer for the repayment of maturing debts accrued by the former NPP/Akufo-Addo/Bawumia administration.
In a recent X post, Dr. Forson said, “For the record, the Mahama government has received GHS89.7 billion in total T-Bill bids since January 10, 2025.”
According to him, of this total, GHS59.5 billion in T-Bill bids were approved as inherited debt rollovers, while GHS30.2 billion in bids were turned down.
Dr. Forson emphasized that because of the Mahama government’s careful public debt management policies, there has been almost no actual debt accumulation. The 91-day T-Bill rate has significantly decreased as a result of these actions, going from 28.34% to 20.79% in just 50 days, indicating that investors have a strong vote of confidence in the Ghanaian economy.
He pleaded with the populace to overlook the doubters and concentrate on the advantages of the government’s fiscal policies.
Source: Citinewsroom