Net Borrowing Under Mahama Stands at GHS7.1bn - Ato Forson
Accra, Ghana - 01 March, 2025 - Ghana's Finance Minister, Dr. Cassiel Ato Forson, has moved to calm concerns over the government's borrowing habits,providing clarity on the net borrowing of GHS7.1 billion under the Mahama administration.
According to Dr. Forson, this borrowing is primarily aimed at servicing debts inherited from the previous government.
The Minister revealed in a social media post that, since January 10, 2025, the government has received a total of GHS89.7 billion in T-Bill bids. Of this amount, GHS59.5 billion was accepted as rollovers of inherited debt, while GHS30.2 billion was rejected. Dr. Forson emphasized that the actual debt accumulation under the current administration is negligible, thanks to prudent debt management measures.
The impact of these measures is evident in the significant drop in the 91-day T-Bill rate, from 28.34% to 20.79% in just 50 days. This dramatic decrease reflects a strong vote of confidence in Ghana's economy from the investor community.
Dr. Forson urged the public to focus on the positive impact of the government's financial strategies, rather than listening to critics.
''total T-Bill bids received by the Mahama government since January 10, 2025, stand at GHS89.7 billion. Of this amount, total T-Bill bids accepted—being rollovers of debt inherited by the Mahama government—stand at GHS59.5 billion, while total T-Bill bids rejected by the government stand at GHS30.2 billion.
''For the avoidance of doubt, net borrowing by the Mahama government, as of today, stands at GHS7.1 billion. This is primarily a buffer for servicing maturing debts accumulated by the NPP/Akufo-Addo/Bawumia government,'' portions of the social media post read.
Source: Lead News Online
