‘In less than 50 days Mahama has borrowed GHC59 billion’

Member of Parliament for Nhyiaeso, Dr. Stephen Amoah has accused the Mahama administration of securing nearly GH¢59 billion in loans within its first 50 days in office.

The legislator made the claim during a press briefing in Parliament on February 27, 2025, held alongside President John Dramani Mahama’s State of the Nation Address (SONA).

“All the payments the President is referring to, where did they get the money from? In less than two months, the NDC government has borrowed almost GH¢59 billion, an unprecedented amount. Ghanaians have given them the mandate, but they must be held accountable,” Dr. Amoah asserted.

He further contended that the previous administration had handed over a “restored economy” that was “operational and fundamentally strong,” urging transparency in fiscal management.

During his SONA speech, President Mahama identified youth unemployment as Ghana’s most critical challenge, warning that its ripple effects endanger national stability.

“The youth unemployment [crisis] has led to despair and frustration. This poses a major security risk to our country and requires urgent attention,” he stated.

To address this, the government has established a new Ministry of Youth Development aimed at crafting solutions to boost job opportunities.

In a conciliatory gesture, President Mahama also appealed to the opposition New Patriotic Party (NPP) and its Minority caucus to participate in the upcoming National Economic Dialogue, scheduled for March 3–4, 2025. Reflecting on past boycotts, he urged collaboration:

“I am confident that the sacrifice we have all made this year will benefit our country going into the future. Together we shall build the Ghana we all want”, he urged.

The government’s National Economic Dialogue, set to take place at the Accra International Conference Centre, will convene private sector leaders, academics, civil society groups, and policymakers.

Centered on the theme “Resetting Ghana: Building the Economy We Want Together,” the forum seeks to foster consensus on structural reforms and growth strategies. President Mahama emphasized the event as a fulfillment of his pledge to involve citizens in shaping economic policy, with outcomes expected to drive revitalization efforts and improve livelihoods nationwide.

By: Novire Kuuyizie Francis