Mahma blames the government for mishandling the $11.5 billion lending facility.

Former President John Mahama has criticized the current government for mismanaging an $11.5 billion loan facility, claiming that the funds have not translated into tangible development for Ghana. Speaking at a rally, Mahama highlighted that while his administration borrowed significantly less—around $3.5 billion—it was able to execute substantial infrastructure projects, including new harbors and airports.

Mahama argues that the Akufo-Addo administration’s excessive borrowing has led to economic distress, leaving many Ghanaians in hardship. He emphasized the need for greater transparency in debt management, proposing the establishment of a Debt Management Authority to oversee borrowing and ensure accountability. This authority would publish quarterly reports on the country’s debt-to-GDP ratio, aiming to restore fiscal discipline.

The former president’s remarks come as part of his campaign strategy ahead of the December 7 elections, where he seeks to position the NDC as a viable alternative capable of reversing the economic challenges faced by Ghanaians. Mahama’s commitment to responsible borrowing and improved financial governance aims to reassure voters of his capability to manage the economy effectively if elected again.