President John Dramani Mahama has revealed before Parliament in his first State of the Nation Address (SONA) that Ghana’s Sinking Fund holds a balance of just $64,000 and GHS143,000.
The figures he presented contradicted claims by the previous Akufo-Addo administration that it left substantial reserves for debt repayment.
The President disclosed this when he presented the SONA on Thursday, February 27, 2025.
“There have been claims that buffers were left for ongoing debt repayments in 2025. The Sinking Fund shows a balance of only $64,000 in the dollar account and GHS143,000 in the Cedi account,” Mahama said.
“The repercussions of the accumulation and the economic mismanagement will require extensive work and sacrifices to repair,” he added.
Mr. Mahama noted that Ghana’s debt servicing over the next four years will total GHS280 billion—comprising GHS150 billion for domestic debt and GHS130 billion for external debt servicing.
“In the next four years, our debt servicing will amount to GHS280 billion and comprise GHS150 billion for domestic debt and GHS130 billion in external debt servicing.’’
By: Rainbowradioonline.com/Ghana
