Flagbearer of the National Democratic Congress (NDC), John Mahama, has bemoaned the incessant borrowing by the Akufo-Addo led government.
He said the current New Patriotic Party (NPP) administration has increased the current debt stock to unsustainable levels.
Addressing residents of Kakasunaka in the Kpone Katamanso constituency as part of his campaign tour of the Greater Accra Region, Mr Mahama said the government has since the year 2017 borrowed GHS157 billion, thereby increasing the debt to GDP ratio to an unprecedented 76.7 per cent.
“The recommended debt to GDP profile for a middle-income country is that we should remain not more than 60 per cent debt to GDP. If you pass 60 per cent and you go to 70 per cent and above, you are becoming highly debt distressed, which is the same as HIPC.
“If we take that debt and divide it amongst all Ghanaians, including children, everybody owes almost GHS9000,” he said. Akufo-Addo should be resigning, not seeking re-election – Mahama
He said when the NPP was in opposition, it created the impression that Ghanaians were sitting on money but were hungry as a result of the policies of the Mahama administration.
“But today we are hungrier than we were in 2016. How many people can eat three square meals a day today? And the question you ask is, where is the money, GHS 157 billion, what have you done with it? Show us”, he said.
