Policy think tank Danquah Institute (DI) has highlighted that the governing New Patriotic Party (NPP) has been more successful in managing debt compared to the opposition National Democratic Congress (NDC). Apexnewsgh reports
In a recent media encounter titled “Profiling & Analysis of Ghana’s Debt from 2009 to 2023”, DI’s head of research, Dr. Frank Bannor, presented data showing a significant increase in public debt under the NDC’s rule from 2009-2016.
According to the statistics and data provided by the Bank of Ghana and the Ministry of Finance, public debt rose threefold under the NDC’s administration, with the debt-to-GDP ratio reaching 73.1% by the end of 2016. Dr. Bannor pointed out that this surge was indicative of poor debt management practices and highlighted the astronomical increase in debt stock under the NDC’s leadership.
Contrary to public perception, Dr. Bannor noted that the NPP government has managed debt more effectively, with a lower average increase in debt stock every year compared to the NDC’s reign. He emphasized that the NPP’s debt management strategies have resulted in a more moderate growth rate in total public debt stock.
The analysis presented by DI aimed to provide clarity on Ghana’s debt situation amidst contrasting viewpoints within the public sphere. Dr. Bannor stressed the importance of evidence-based discourse to promote transparency, accountability, and progress in Ghana’s socio-political landscape.
The think tank’s commitment to rigorous research and data-driven discussions is aimed at enhancing public understanding of critical national issues.
Source: Apexnewsgh.com
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