President John Mahama’s administration has kicked off its borrowing spree, raking in a whopping GH¢59.68 billion from the domestic bond market in just six weeks.
The massive borrowing, which took place between January 10 and February 21, 2025, has raised concerns about the country’s debt sustainability.
A breakdown of the borrowing activities reveals that the government raised GH¢8.07 billion on January 10, GH¢8.83 billion on January 17, GH¢8.16 billion on January 24, GH¢7.99 billion on January 31, GH¢7.60 billion on February 7, GH¢9.43 billion on February 14, and GH¢9.60 billion on February 21.
The Bank of Ghana, which regulates the country’s financial sector, provided data on the government’s borrowing activities.
The massive borrowing has sparked debate about the government’s fiscal management and its ability to service the debt.
While some experts argue that borrowing is necessary to finance critical development projects and stimulate economic growth, others are concerned about the country’s rising debt levels.
However, as the NDC government continues to tap into the domestic bond market, it remains to be seen how the borrowed funds will be utilized and what impact they will have on the country’s economy.
The opposition has already started questioning the government’s borrowing plan, with some calling for greater transparency and accountability in the use of borrowed funds.
-BY Daniel Bampoe
