Former President Mahama projects that Ghana’s debt servicing will reach Ghc280 billion in four years, with Ghc150 billion for domestic debt and Ghc130 billion for external debt. He also reports a significant $2.2 billion financing shortfall in the energy sector for 2025, attributing it to various operational inefficiencies and legacy debts.
In a recent address to Parliament, former President John Dramani Mahama outlined a concerning forecast for Ghana’s economy, predicting that debt servicing will reach Ghc280 billion over the next four years. This figure includes Ghc150 billion allocated for domestic debt and Ghc130 billion for external obligations. Mahama emphasized the persistent struggles within the financial sector, citing previous expenditures of Ghc29.9 billion for a cleanup initiative yet inadequate results.
Furthermore, he addressed the alarming financial challenges within Ghana’s energy sector, noting a financing deficit that has escalated to approximately $2.2 billion or Ghc34 billion for the year 2025. He attributed these difficulties to collection issues, system losses, non-compliance with financial protocols, and legacy debts. Mahama called for urgent measures to mitigate this shortfall and seek a sustainable resolution.
In conclusion, former President Mahama has highlighted critical financial challenges facing Ghana, particularly regarding the anticipated Ghc280 billion debt servicing costs and a staggering Ghc34 billion deficit in the energy sector. His address underscores the need for decisive action to address these issues and stabilize the country’s economic landscape.
Original Source: www.gbcghanaonline.com
