President John Dramani Mahama has painted a gloomy picture of Ghana’s debt crisis.
He revealed that the debt crisis cuts across all the various sectors of the economy, particularly the energy sector.
Presenting his first State of the Nation Address (SONA) of his second term to Parliament in Accra on Thursday, February 27, 2025, he lamented that the country was in an unprecedented crisis with unsustainable debt levels and mismanagement of key state institutions.
He pointed out that Ghana’s public debt has increased to GHS721 billion, a situation he bemoaned has placed pressure on our economy.
“We are saddled with staggering debts and glaring signs of almost deliberate and, in some cases, reckless mismanagement of our resources,” Mahama stated.
“In addition to the public debt, which amounts to a staggering GHS721 billion, several state-owned enterprises are also in debt, including the ECG, which owes GHS68 billion.
Ghana COCOBOD, the hope of cocoa farmers, is highly indebted. Its balance sheet indicates a total debt of GHS32.5 billion, of which GHS9.7 billion is due to be paid by the end of September 2025.”
By: Rainbowradioonline.com/Ghana
