Ghana’s debt shoots up; borrows GH¢ 6.3 billion in 3 months

Read Article

Comments (23)

This article is closed for comments.

Read Comments Comments (23)

I & I 9 years ago

Sure, NDC is doing great, keep voting for them until you wake up one day and you are in Chains as Slaves.

Sure, NDC is doing great, keep voting for them until you wake up one day and you are in Chains as Slaves.
PRINCE KWASI ADADE 9 years ago

MAHAMA AND HIS CORRUPT NDC MUST TELL US WHAT EXACTLY THEY HAVE DONE WITH THE MASSIVE $20 BILLION THEY HAVE BORROWED IN JUST THE LAST 5 YEARS, IF HE IS SAYING,HE HAS NOT BORROWED FOR DRINK AND MERRY MAKING, WHICH MEANS CREATE, ...
read full comment

MAHAMA AND HIS CORRUPT NDC MUST TELL US WHAT EXACTLY THEY HAVE DONE WITH THE MASSIVE $20 BILLION THEY HAVE BORROWED IN JUST THE LAST 5 YEARS, IF HE IS SAYING,HE HAS NOT BORROWED FOR DRINK AND MERRY MAKING, WHICH MEANS CREATE, LOOT AND SHARE. HOW COULD YOU STEAL MONEY BELONGING TO THE POOR CHILDREN STRUGGLING TO FEND FOR THEMSELVES IN THE MIDDLE OF OUR STREETS, DRIVE PAST THEM AND HAVE A LAUGH???---- GHANAIANS MUST WAKE UP!! OUR FUTURE LOOKS BLEAK. WE CAN'T GO ON LIKE THIS. BAWUMIA HAS ADMONISHED NDC AS A PATRIOTIC CITIZEN BUT THEY WOULDN'T LISTEN. NDC HAS RATHER VOWED TO BORROW MORE TO PLUNGE GHANA INTO MASSIVE DEBT. HABA! NDC.
NKWASEAFO BI NTI GHANA IS SICK!!! THE CEDI HAS ALREADY DIVED DEEP DOWN!!!!!!!------ WE NEED NANA'S WISDOM. HIS LEADERSHIP WITH BAWUMIA IS EXCELLENT. NANA IS OUR POLITICAL MESSIAH!! WE WILL PATIENTLY WAIT FOR HIM TO COME AND LIBERATE US FROM OUR ECONOMIC OPPRESSORS. WE CAN'T PUT OUR TRUST IN THESE YOUNG NDC THIEVES (WITH NO WORK RECORD) WHO WANT TO LIVE LIKE KINGS OVERNIGHT, OWNING JETS, BIG MANSIONS, BANKS, ROLLS ROYCE, DATING MODELS ETC. AT THE EXPENSE OF THE POOR. BEING A PRESIDENT REQUIRES THE USE OF BRAIN NOT BRAWN. A PRESIDENT DOES NOT "THROW" PICK AXE!!! WHO CAN DO THE JOB BETTER THAN NANA, AT THIS TIME IN OUR HISTORY, WHERE GREEDY CORRUPT , SHARP TEETH ROTTEN PLANK NDC SMALL BOYS, PARADING AS POLITICIANS, HAVE PLUNDERED OUR RESOURCES TO THE BONE, THAT OUR OIL ECONOMY INHERITED FROM THE GREAT KUFFOUR HAS HAD NO IMPACT ON THE LIVES OF THE ORDINARY CITIZENS OF OUR COUNTRY???? LONG LIVE GHANA!! LONG LIVE NANA ADDO. MORE GREASE TO YOUR ELBOWS!! EVERY THIEF IN GHANA, TODAY, IS SCARED OF BOLD AND MIGHTY NANA ADDO. NANA IS CLEAN !! CLEAN TO THE BONE!!!
Abeku 9 years ago

Mahama wota kankan

Mahama wota kankan
DusTY-FooT-pHiloSophER 9 years ago

Sure, we borrowed to service the country by means of roads, schools, hospitals, transports, agriculture projects all over, water projects, electricity projects, gas project and what have you. In fact, every facade has been to ...
read full comment

Sure, we borrowed to service the country by means of roads, schools, hospitals, transports, agriculture projects all over, water projects, electricity projects, gas project and what have you. In fact, every facade has been touch by this administration and these numerous projects which majority are still ongoing and a few completed, calls for a visitation from anyone who cares to go investigate. Since Mahama led NDC government is not keen on building a similar administration to that of hotel Dewawaa and decorate himself with gold chains like "50 Cent" of a president, but dedicated on building a country worthy of its status as the gateway to Africa.

The discerning lot are ever ready to put hands-on deck to help make it successful for all. For our detractors, well, they can march to hell with their nonsense for all we care. Nkrumah nearly brought Ghana so far to fame only for the mati-meho bookies to derail his dream project for our home sweet home. Now, they're back once more singing the same old-school tunes with a touch of press freedom to hoodwink the populace. But, we as a people have come of age from these Mati-meho tricksters and will never and I mean, never repeat history to their likings as our grandfathers and fathers did. "Achakanapaya" is in your face attitude we cherish now as our motto.
wali 9 years ago

FOOLING HIMSELFS THAT BORROWING WILL MAKE GHANA "RICH"WHEN IN FACT SOON WE WILL BE BANKRUPT NATION THAT WONT BE ABLE TO FEED OURSELFS

FOOLING HIMSELFS THAT BORROWING WILL MAKE GHANA "RICH"WHEN IN FACT SOON WE WILL BE BANKRUPT NATION THAT WONT BE ABLE TO FEED OURSELFS
Dr.adumtumi nyansafuo 9 years ago

Thats it. I am giving up my dual citizenship. Whats the point of backing a country that does not do the right things for the country and the citizens. Our land is being wasted by theives and idiots, that cheat in calculus. Gh ...
read full comment

Thats it. I am giving up my dual citizenship. Whats the point of backing a country that does not do the right things for the country and the citizens. Our land is being wasted by theives and idiots, that cheat in calculus. Ghanaians must cheat at school, because if we are so good at math and science why in the hell can't we build our country with our own money?
Elvis 9 years ago

Mr, president, Good work done borrow more, we need more pad and chop chop

Mr, president, Good work done borrow more, we need more pad and chop chop
Kobi, Philly 9 years ago

If it's about borrowing then JHS graduate can be a President of Ghana,Total stock of public debt (domestic and external) stood at GH¢58.4 billion (55.4% of GDP). is NDC collapsing Ghana or what?

If it's about borrowing then JHS graduate can be a President of Ghana,Total stock of public debt (domestic and external) stood at GH¢58.4 billion (55.4% of GDP). is NDC collapsing Ghana or what?
Senior Wisdom 9 years ago

I read on this site not too long ago the government being warned about burrowing. Sadly some infant politicians like some one by name Fiifi Kwetey and his compatriot a junior doctor who went to politics after his Housemanship ...
read full comment

I read on this site not too long ago the government being warned about burrowing. Sadly some infant politicians like some one by name Fiifi Kwetey and his compatriot a junior doctor who went to politics after his Housemanship Omane Boamah challenged economist that they were wrong.Even JSS pupils can predict that burrowing was good for Ghana. Well it is clear these infants were wrong, and that burrowing has consequences and here we are, see what they have done to Ghana. Honestly I have lost faith in Ghanaian politics but more so in Mahama and his cronies and their goofs. How long are we going to have these infants experiment with Ghanaians.
Antiochus - London 9 years ago

Good job NDC. Better Ghana Agenda.

Good job NDC. Better Ghana Agenda.
DAN 9 years ago

ghana is now in same league as Argentina! Remember when their antique ship was seized in Tema for not repaying their bonds...And that is still being argued in USA court (since they sold some bonds thru American banks)

ghana is now in same league as Argentina! Remember when their antique ship was seized in Tema for not repaying their bonds...And that is still being argued in USA court (since they sold some bonds thru American banks)
Odasanibi 9 years ago

Qh Mr.president, so what do you have to show for all these borrowings and money raised from bonds? Debt almost half of the GDP? Now you borrowing to finance maturing debts, when is it going to end? These problems are due to t ...
read full comment

Qh Mr.president, so what do you have to show for all these borrowings and money raised from bonds? Debt almost half of the GDP? Now you borrowing to finance maturing debts, when is it going to end? These problems are due to the vast amounts of money used before and after the 2012 elections and also to bad governance.
Onyansani 9 years ago

It saddens my heart when i hear horrible things about in US here. What president do we have? Loans for pads and next time loan for this but, no ideas of creating jobs for the youths. God will punish you leaders for treating G ...
read full comment

It saddens my heart when i hear horrible things about in US here. What president do we have? Loans for pads and next time loan for this but, no ideas of creating jobs for the youths. God will punish you leaders for treating Ghanaians like animals. People have no shelter and food to to eat. Judgement day is coming.
KWAMW OWUSU 9 years ago

WE STILL VOTE FOR U .KEEP ON BORROWING AND CHOP ALL THE MONEY WITH YOUR WIFE AND GIRL FRIEND . FOOLISH GOVERNMENT

WE STILL VOTE FOR U .KEEP ON BORROWING AND CHOP ALL THE MONEY WITH YOUR WIFE AND GIRL FRIEND . FOOLISH GOVERNMENT
Abdul-Mumin, PhD, Malaysia 9 years ago

Hello folks, borrowing is not a bad economic development strategy, What is bad is improper utilization the money is used. After all USA is the most indebted country on Earth.

In terms of public and external debts, GHANA h ...
read full comment

Hello folks, borrowing is not a bad economic development strategy, What is bad is improper utilization the money is used. After all USA is the most indebted country on Earth.

In terms of public and external debts, GHANA has performed better than countries like USA, UK, JAPAN, GERMANY, etc

Check out these links from CIA WORLD FACTBOOK as follows:

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html (PUBLIC DEBT % GDP);

EXTERNAL DEBT: https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html.

LONG LIVE GHANA!!, LET US ALL CONTINUE TO PRAY FOR OUR MOTHERLAND IN THESE TRYING MOMENTS
I say 9 years ago

Are you trying to justify ndc debt? And yet with all the loans, they don't fulfil targets, pay bills or account for mismanagement? This is strange thinking. Malaysia is nice eh?

Are you trying to justify ndc debt? And yet with all the loans, they don't fulfil targets, pay bills or account for mismanagement? This is strange thinking. Malaysia is nice eh?
Abdul-Mumin, PhD, Malaysia 9 years ago

Point of correction, it national/ public debt not NDC's debt. The nation MUST pay this debt long after NDC leaves office.

I,m not justifying the accumulation of development stifling national debts. My point is; BORROWING P ...
read full comment

Point of correction, it national/ public debt not NDC's debt. The nation MUST pay this debt long after NDC leaves office.

I,m not justifying the accumulation of development stifling national debts. My point is; BORROWING PER SE IS NOT THE ISSUE, BUT MISMANAGING THE FUNDS IS UNACCEPTABLE.
OBENG 9 years ago

So what is your point? No one is concerned about debt but we are all concerned about the fact that these loans have not been used for any economic viable projects to put Ghana in a position to repay and rip the benefits in Gh ...
read full comment

So what is your point? No one is concerned about debt but we are all concerned about the fact that these loans have not been used for any economic viable projects to put Ghana in a position to repay and rip the benefits in Ghana. we are concrened because these loans are mismanaged. So no one need a lecturere on debt per se is not bad.
OBENG 9 years ago

Not to be personal but you have included a PhD in malaysia and yet you put forth such a stupid proposition. The payment of any unproductive debt weakens the economy. When was the last time you visited Ghana? Show us any econo ...
read full comment

Not to be personal but you have included a PhD in malaysia and yet you put forth such a stupid proposition. The payment of any unproductive debt weakens the economy. When was the last time you visited Ghana? Show us any economic value of Ghana's debt? Sanitary pads will not bring any benefits or revenue to repay Ghana's debt. So do the maths. US may have high debt, but they use the money for economic viable projects, give foreign aids to countries like Ghana and their debt is about 5% of less GDP. Ghana's debt is over 55%. So who is your professor? Wa bon papa....
wali 9 years ago

UNTIL WE WILL GO BUNKRUPT NATION THAT CANT FEED OURSELFS

UNTIL WE WILL GO BUNKRUPT NATION THAT CANT FEED OURSELFS
patrotic of Ghana 9 years ago

It is useless for our mother Ghana who is reach in resource to borrow money from a foreigner who has no resource.Our dear country is rich in Gold, Buaxite,Mangense, Timber, cocoa,Salt,and recently Oil. on the shore of west Af ...
read full comment

It is useless for our mother Ghana who is reach in resource to borrow money from a foreigner who has no resource.Our dear country is rich in Gold, Buaxite,Mangense, Timber, cocoa,Salt,and recently Oil. on the shore of west Africa we are blessed all this minerals which is to create more revenue for our nations.

With maritime Ghanaians sailors have the best opportunity to have the univerisity in Ghana and even this Ghana is not able to have our ships to trade with now allowing foriegn flag vessel's to carry our cocoa for us.Is not a shame to our nation which through Late President Nkrumah opening the eyes of African countries and the world.

Government Authorities in Ghana.
Ghana ports and harbours authority was merged by then Ghana Cargo handling co. Takoaradi Lightrate co.
and Ghana ports now GPHA.
GPHA are doing very well. where is all the monies Ghana shippers council which was introduce by A.T.Addico with the ideal of generating funds for Ghana government to Purchase others vessel's to enhance the sales of mineral resources in now in the Pocket of So called CEO and his assocaites making big money and taking good salaries without thinking of Ghana. They are changing usd 2.00 pmt on general Cargo per container and 0.50 pmt on bagged cargo and 0.35 pmt on bulk cargo. They can use part of this money to purchase vessels like comi ships, roro and tankers to make good money for the nations making sure Ghana is stayable.

finally the it time for the minister of transport and all stake holders to look into the affairs of the GSA and other government agencies to make sure things are well done to enable all Ghanaians to raise the good image of founding fathers who fought making Ghana what is to day. Let all rise and build our oldest Empire in africa. GHANA.
impromptus 9 years ago

We have stopped mourning. Instead we wait for his second term to mortgage our grandchildrens grandchildren

We have stopped mourning. Instead we wait for his second term to mortgage our grandchildrens grandchildren
impromptus 9 years ago

Oh dear!

Oh dear!

Ghana’s debt shoots up; borrows GH¢ 6.3 billion in 3 months

Read Comments .st0{display:none;fill:#14BDD3;} .st1{display:none;} .st2{display:inline;fill:#FC0F0F;} .st3{display:inline;fill:#FFFFFF;} .st4{display:inline;fill:none;stroke:#000000;stroke-width:6;stroke-miterlimit:10;} Comments (23)

Read Comments Comments (23)