Mahama accuses Akufo-Addo govt of burdening Ghanaian youth with debt

Ghanaian

John Dramani Mahama accused the Akufo-Addo administration of burdening Ghanaian youth with substantial debts incurred over the years, warning that it would be the youth who bear the brunt of repayment.

During his tour in the North East Region, Mahama stated that while Akufo-Addo and his ministers won't directly shoulder the debt burden, it would be the young

Read full articlepeople of Ghana who would ultimately have to pay off these loans.

Comparing the debt situation between 2016 and the present, Mahama highlighted the significant increase in debt per person, asserting that each citizen now owes a substantial amount due to increased borrowing. He criticized the lack of visible transformation despite significant borrowing, particularly in infrastructure development.

"In 2016 if we divided the debt, if we all decided that we were going to pack our bags and leave Ghana and so let us share the debt and everybody should pay his and then we will go. If we divided the debt, all of us would have paid 4000 cedis. Today, if we say we are going to divide the debts, all of us are giving Ghana up, we will pay our debts and go, and so we are going to share the debt for everybody to pay, every one of you here owes 20,000 Cedis," he said.

"The point is even, the Eurobond alone, in six years the president’s cousin, the Finance Minister borrowed 13.5 billion dollars and if we had seen highways, bridges, regional hospitals, universities, schools, water, electricity, we would say that the money was well spent. But after 13.5 billion Cedis, just show me in the North East here, what transformation has happened in the North East here over the last seven and a half years.

"And so you just can’t understand and that is why I am saying they have mortgaged your future because that money, it is not them who will are going to pay it, people are celebrating their 80th birthday and Ghana is owing 650 billion, you think they are going to pay the 650 billion? Who is going to pay? You those sitting here, you the young people, that debt they had left is a debt for you to come and pay," he added.