Former President John Dramani Mahama says the ballooning debt stock under the current Akufo-Addo-led government is choking the economy.
He said the borrowing by this government is unprecedented in the history of Ghana.
The flagbearer of the National Democratic Congress (NDC) insists that the over GH¢157 billion borrowed by this government since coming to power has gone beyond the debt threshold of a heavily indebted poor country (HIPC).
“The recommended debt to GDP profile for a middle-income country is that we should remain not more than 60 per cent debt to GDP,” he said at a rally in the Kpone Katamanso Constituency as part of his five-day campaign tour of the Greater Accra Region.
“If you pass 60 percent and you go to 70 percent and above, you are becoming highly debt distressed, which is the same as HIPC.
“If we take that debt and divide it amongst all Ghanaians, including children, everybody owes almost GH¢9,000,” he said in midweek.
He expressed worry that there is nothing to show for the borrowing that has riddled this government unlike in his tenure.
“Today, we are hungrier than we were in 2016. How many people can eat three-square meals a day today? And the question you ask is, where is the money, the GH¢157 billion, what have you done with it? Show us.”
He called on Ghanaians to vote him back to power to ensure the implementation of progressive policies including the Free Primary Healthcare and the Big Push.