President John Dramani Mahama delivered a stark assessment of Ghana’s economic situation, describing the nation as “broken on many fronts” due to staggering debt and financial mismanagement. Apexnewsgh reports
Presenting his first State of the Nation Address (SONA) of his second term to Parliament in Accra, Mahama highlighted the unsustainable debt levels and mismanagement of key state institutions that have placed immense pressure on the country’s economy.
Ghana’s public debt has soared to a staggering GHS721 billion, with major state-owned enterprises, including the Electricity Company of Ghana (ECG) and the Ghana Cocoa Board (COCOBOD), struggling under heavy debt burdens.
The ECG owes GHS68 billion, while COCOBOD’s balance sheet indicates a total debt of GHS32.5 billion, with GHS9.7 billion due to be paid by the end of September 2025.
Mahama’s revelations underscore the severity of Ghana’s economic crisis, emphasizing the urgent need for financial restructuring and responsible governance to restore stability. Despite the challenges, Mahama remains committed to finding solutions, vowing to fix the economic crisis before the end of his four-year mandate.
Source: Apexnewsgh.com
