Debt ridden Ghana, now laughing stalk on the global stage – John Mahama

Former President John Mahama has decried Ghana’s sunken image today on the global front.

According to him, the country today has been run down as a result of bad governance to the extent that ii has become laughing stalk.

John Mahama was speaking during his tour of the Central region said in spite of he excessive borrowing, government is now desperation begging for debt forgiveness to save the economy from crushing.

The 2024 candidate of the National Democratic Congress, NDC described the situation as unfortunate.

He said at this crisis stage, Ghana needs experience hands to save the economy from its current quagmire.

“The current state of the country is very sad because the finances of the economy is descipated and the country is pleading for debt forgiveness” he lamented.

John Mahama added that the hardship Rosa is affecting all or respecting of political affiliation

“Nana I am sure your and your sub chiefs are also feeling the heat” he told the Chiefs and people of Cape Coast.

He blamed the development on impunity and wanton corruption by the current Nana Akuffo Addo-Bawumia led administration.

Mr. Mahama made these remarks when he paid a courtesy call on the Oguamanhene, Osaberima Kwesi Attah II at Enintsimadze palace as part of his two-day #Building Ghana Tour.

According to the World Bank, Ghana’s public debt as of October 2023 is 76.63% of Gross Domestic Product (GDP).

FITCH, S&P, Moody’s and other rating agencies have all rated Ghana low.

Ghana in February this year started talks with China to restructure bilateral loans as she slowly moves forward in its goal to reorganize about $30 billion of public debt.

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