The Institute of Economic Research and Public Policy (IERPP) has responded to Finance Minister Dr. Cassiel Ato Forson’s claims about the government’s borrowing, sparking a heated debate about Ghana’s economic management. Apexnewsgh reports
Dr. Forson had stated that the net borrowing by the Mahama administration stands at GHS7.1 billion, with total T-Bill bids received since January 10, 2025, amounting to GHS89.7 billion. He emphasized that the actual debt accumulation under the Mahama government is virtually zero, thanks to prudent public debt management measures.
However, IERPP’s Executive Director, Dr. Frank Bannor, disputed this claim, pointing out that the actual borrowing amount is GHS67 billion. Dr. Bannor questioned Dr. Forson’s assertion, asking if the government is not a continuum of previous administrations.
Dr. Bannor’s statement highlighted specific instances where the government had taken on significant debt, including buying back $117.3 million equivalent to GH¢672 million of the 2023 maturing Eurobond and using $1.257 billion for further liability management operations in the domestic debt market.
The IERPP’s response emphasizes the need for transparency and accuracy in the government’s financial reporting. As Ghana navigates its economic challenges, it is essential to have a clear understanding of the country’s financial situation.
