Finance Minister Dr. Cassiel Ato Forson has addressed concerns about the government’s borrowing, emphasising that the net borrowing by the Mahama administration stands at GHS7.1 billion.
Dr Forson highlighted that this borrowing primarily serves as a buffer for servicing maturing debts accumulated by the previous NPP/Akufo-Addo/Bawumia government.
“For the record, total T-Bill bids received by the Mahama government since January 10, 2025, stand at GHS89.7 billion,” Dr Forson stated in a recent X post.
He explained that out of this amount, GHS59.5 billion in T-Bill bids were accepted as rollovers of inherited debt, while GHS30.2 billion in T-Bill bids were rejected.
Dr Forson emphasised that the actual debt accumulation under the Mahama government is virtually zero, thanks to prudent public debt management measures. These measures have led to a significant drop in the 91-day T-Bill rate, from 28.34% to 20.79% in just 50 days, reflecting a strong vote of confidence in the Ghanaian economy by the investor community.
He urged the public to ignore the naysayers and focus on the positive impact of the government’s financial strategies.
For the record,
total T-Bill bids received by the Mahama government since January 10, 2025, stand at GHS89.7 billion.
Of this amount, total T-Bill bids accepted—being rollovers of debt inherited by the Mahama government—stand at GHS59.5 billion, while total T-Bill bids…
— Cassiel Ato Forson(PhD) (@Cassielforson) March 1, 2025
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