The government has moved to address concerns over its borrowing, providing clarity on the state of Ghana’s finances.
According to Finance Minister Dr. Cassiel Ato Forson, the Mahama administration’s net borrowing stands at GHS7.1 billion, with the majority of this amount dedicated to servicing debts inherited from the previous government.
In a recent statement on Facebook, Dr. Forson revealed that the government has received total T-Bill bids worth GHS89.7 billion since January 10, 2025. Of this amount, GHS59.5 billion was accepted as rollovers of inherited debt, while GHS30.2 billion was rejected.
The minister emphasized that the government’s prudent debt management measures have yielded positive results, with the country’s debt accumulation under the Mahama administration being virtually zero. This achievement is reflected in the significant drop in the 91-day T-Bill rate, from 28.34% to 20.79% in just 50 days.
Dr. Forson’s clarification comes amid growing concerns over Ghana’s borrowing and its impact on the economy. The government’s efforts to address these concerns and provide transparency on its financial dealings are seen as a step in the right direction.