Mahama’s Eurobond issuances burdened Ghana with high interest rates – Dr. Bannor

Dr. Frank Bannor criticized former President John Mahama's borrowing practices, particularly the issuance of Eurobonds with high interest rates and short repayment terms, such as the 10.75% bond in 2015.

He contrasted this with President Akufo-Addo’s administration, which secured more favorable terms, including a 2018 Eurobond at 8.625% with a 30-year term.

Bannor also highlighted costly financial deals like the $510 million AMERI power agreement under Mahama, comparing it unfavorably to Egypt’s cheaper energy projects.

He urged for better debt management and criticized the expensive Power Purchase Agreements negotiated during Mahama's tenure.