President John Dramani Mahama has revealed that Ghana’s public debt has surged to GHC721 billion, intensifying economic pressure on the country.
He also highlighted the financial struggles of key state-owned enterprises, including the Electricity Company of Ghana (ECG) and the Ghana Cocoa Board (COCOBOD), both burdened with massive debts.
“We are saddled with staggering debts and glaring signs of almost deliberate and, in some cases, reckless mismanagement of our resources,” Mahama stated.
He disclosed that ECG owes GHS68 billion, while COCOBOD’s debt stands at GHC32.5 billion, with GHC9.7 billion due by the end of September 2025.
Mahama’s remarks underscore the gravity of Ghana’s economic crisis, reinforcing the need for urgent financial restructuring and prudent governance to restore stability.
