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The Finance Minister, Dr. Cassiel Ato Forson, has exposed a potentially alarming debt repayment schedule inherited from the previous government.
When presenting the 2025 budget, Dr. Forson disclosed that the debt restructuring undertaken by the Nana Akufo-Addo administration was deliberately designed to make 2027 and 2028 “debt repayment-heavy, sadly.”
Dr. Forson described the situation as “cancerous,” sparking concerns about the country’s economic stability and its ability to manage its debt. The finance minister’s statement has raised questions about the long-term sustainability of Ghana’s debt management strategy.
According to him, Ghana’s debt restructuring efforts have been ongoing since 2022, with the government introducing the Domestic Debt Exchange Program (DDEP) to manage its domestic debt.
He explained that, despite the daunting challenges ahead, he assured Ghanaians that his government is committed to finding a solution.
“The debt restructuring undertaken by the then government was designed to make 2027 and 2028 debt repayment heavy…. but I can assure you, we will fix it,” he stated.
