Each Ghanaian owes GH₵19k – Mahama breaks down Ghana’s external debt

John Mahama, Ghana's former president, claims the country's debt to external creditors has quadrupled since he left office, exacerbating unemployment and the plight of ordinary Ghanaians.

He illustrated that in 2016, each Ghanaian owed GH₵4,000 of the public debt, which has now increased to GH₵19,000 per person.

Economists are concerned about Ghana's financial sustainability, with the debt rising to GH₵742 billion from GH₵680 billion in 2023.

Mahama warned that Ghana's inability to pay its debt has led to credit rating downgrades and hindered investment in social and economic projects, forcing Ghanaians to adopt extreme measures to cope with rising inflation.