Member of Parliament for Walewale, Hon. Abdul Kabiru Tiah Mahama, has accused the NDC government of hypocrisy, arguing that the same Domestic Debt Exchange Programme (DDEP) it previously condemned now drives its economic gains.
Contributing to the debate on the 2025 Public Debt Report in Parliament, the Walewale MP asserted that the scheme has become the bedrock of the administration’s macroeconomic performance.
“The thing that you bastardised is now the cornerstone of your macroeconomic success,” Hon. Mahama told the House.
He recalled how the NDC, while in opposition, fiercely criticised the programme introduced under the previous administration. However, he noted that the 2025 Public Debt Report now credits the scheme, along with cedi appreciation and fiscal consolidation, for improving Ghana’s debt indicators.
The report links the drop in national debt to these three elements, bringing the debt-to-GDP ratio down to approximately 44 per cent, with the nominal debt stock standing at around GH¢641.1 billion ($61.3 billion).
Nevertheless, Hon. Mahama maintained that the figures reveal a different reality regarding borrowing and debt servicing.
He pointed out that government borrowed GH¢84.9 billion in 2025 against GH¢77 billion spent on debt servicing, leaving a net borrowing position.
“The only place we are seeing some relief is with external debt. On domestic debt, government continues to borrow every single day,” he stated, citing the Ministry of Finance’s Public Debt Statistical Bulletin.
Warning against over-reliance on currency gains, the MP cautioned that anchoring debt management on a strong cedi leaves the economy vulnerable to sudden currency crises.
By: Rainbowradioonline.com/Ghana