The John Dramani Mahama government’s massive borrowing spree has been exposed, sparking a heated debate over the administration’s fiscal strategy.
At the center of the controversy are Dr. Gideon Boako, Member of Parliament for Tano North Constituency in the Ahafo region, and Mussah Dankwa, a pollster of Global InfoAnalystics.
According to Dr. Boako, “As at the end of Friday’s auction, the total borrowing from the T-bill market from January 10th to February 28th is 67 billion cedis.”
This revelation has raised concerns over the government’s reliance on short-term borrowing, with many stakeholders questioning the sustainability of such high levels of debt.
In response to Dr. Boako’s assertion, Mussah Dankwa stated, “The truth is, the NDC has borrowed GHC67 billion to repay debts of GHC60 billion incurred in 2024.
Meaning, the NDC has borrowed GHC7 billion since January 7th 2025.” However, when Dr. Boako presented the actual T-bill figure of GH¢67 billion, Mussah Dankwa and the NDC were forced to acknowledge the higher borrowing figure.
Dr. Boako countered Mussah Dankwa’s claims, saying, “Ato Forson says their net borrowing is GHC7 at T bills total auction figure of GHC59 billion. When I put out the true/actual T bill figure at GHC67 billion, Mussa Dankwah and the NDC hurriedly make a U-turn to say that it is true, but their net borrowing is still GHC7 billion.”
This exchange highlights the ongoing concern over the government’s fiscal strategy, with many stakeholders questioning the sustainability of such high levels of short-term borrowing.
The debate has sparked concerns over the government’s ability to manage the country’s fiscal challenges while promoting sustainable economic growth. With the budget presentation just days away, the government is expected to outline its broader economic strategy, including efforts to stabilize public debt.
The coming weeks will be crucial in determining whether alternative revenue measures will be introduced to ease the pressure on the treasury bill market and ensure long-term financial stability.
-BY Daniel Bampoe
