Mahama: Ghana’s Sinking Fund Holds Only $64,000, Contradicting Akufo-Addo Administration’s Claims
Accra, Ghana – February 27, 2025
President John Dramani Mahama has revealed that Ghana’s Sinking Fund—which is designated for debt repayment—holds only $64,000 and GHS143,000, contradicting claims by the previous Akufo-Addo administration that it left behind substantial reserves.
Speaking during his first State of the Nation Address (SONA) of his second term, Mahama disclosed the true state of Ghana’s debt reserves, challenging assertions that the country had sufficient financial buffers.
“There have been claims that buffers were left for ongoing debt repayments in 2025. The Sinking Fund shows a balance of only $64,000 in the dollar account and GHS143,000 in the Cedi account,” Mahama stated.
The President further detailed the daunting debt challenges facing the country, revealing that Ghana will need GHS280 billion for debt servicing over the next four years.
“In the next four years, our debt servicing will amount to GHS280 billion—comprising GHS150 billion for domestic debt and GHS130 billion in external debt servicing,” he emphasized.
Mahama stressed that extensive work and sacrifices would be required to repair the country’s struggling economy, citing the accumulation of debt and economic mismanagement as key obstacles to recovery.
His remarks underscore the urgent need for financial restructuring and fiscal discipline to stabilize Ghana’s economy.
Please download our HOTDIGITAL ONLINE APP and follow HotDigital Online on our social media platforms to stay updated on our upcoming initiatives.
#HotDigitalHealthAwareness #CommunityHealth #GhanaNursesAssociationUK #HealthMatters #HotDigitalOnline #StrongerTogether
