The Minister of Finance, Cassiel Ato Forson, has emphasised that the current administration led by President John Mahama has zero debts to its name.
According to him, the only debts his government owes are those inherited from the previous administration.
He said the total treasury bill bids received by the government stand at GH¢89.7 billion.
Ato Forson wrote on his X page on February 28, 2025, “For the record, total T-Bill bids received by the Mahama government since January 10, 2025, stand at GH¢89.7 billion.”
He explained that “Of this amount, total T-Bill bids accepted—being rollovers of debt inherited by the Mahama government—stand at GH¢59.5 billion, while total T-Bill bids rejected by the government stand at GH¢30.2 billion.”
He clarified claims that his government had borrowed GH¢59 billion in less than 2 months of office.
“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.
“It is instructive to note that actual debt accumulation under the Mahama government is virtually zero,” he said.
He also noted that his government’s management of the fiscal space has led to a drop in interest rates on treasury bills.
“The prudent public debt management measures adopted by the Mahama government have led to a record-high drop in the 91-day T-Bill rate, from 28.34% to 20.79% in just 50 days—an emphatic vote of confidence in the Ghanaian economy by the investor community.
“Please ignore the naysayers,” the minister noted.
SSD/EK
Watch the latest episode of Health Focus below
