President John Mahama is taking bold steps to tackle Ghana’s debt and strengthen the economy.
He’s directed the Ministry of Finance to pay off outstanding debts and build a financial safety net through the Sinking Fund. On Monday, the Ministry of Finance paid out a whopping GH₵6.081 billion to bondholders and also credited GH₵3.46 billion to their accounts.
But that’s not all – the government has also set aside GH₵9.7 billion in the Sinking Fund to cover future debt payments. This move is designed to reassure investors and restore confidence in the economy.
President Mahama is committed to being responsible with the country’s finances and has promised to outline more measures in the upcoming 2025 Budget Statement to keep spending in check and make sure every pesewa counts.
His goal is to stabilize the cedi, control inflation, and create jobs, despite the tough economic situation left behind by the previous administration.
By being prudent with the country’s finances, the Mahama-led administration hopes to get Ghana’s economy back on track.
