Finance Minister Dr. Cassiel Ato Baah Forson, has clarified that the Mahama government, since assuming office few weeks ago, has borrowed GHC7.1 billion.
The amount, he says, is a buffer to service maturing debts accrued under the previous Akufo-Addo/Bawumia administration.
In a post made on his X Saturday, March 01, 2025, Dr. Forson disclosed that the new administration has received bids for Treasury Bills (T-Bills) totalling GHC89.7 billion since January 10, 2025.
However, he explained that GHC59.5 billion of the total bids has been accepted by the government, largely rollovers of inherited debt while GHC30.2 billion worth of bids have been rejected.
“It is instructive to note that actual debt accumulation under the Mahama government is virtually zero,” Dr. Forson stated.
He further stated that the administration’s prudent public debt management strategies have resulted in a sharp decline in the 91-day T-Bill rate from 28.34 per cent to 20.79 per cent within just 50 days.
According to him, this drop reflects strong investor confidence in the Ghanaian economy under the current leadership.
For the record,
total T-Bill bids received by the Mahama government since January 10, 2025, stand at GHS89.7 billion.
Of this amount, total T-Bill bids accepted—being rollovers of debt inherited by the Mahama government—stand at GHS59.5 billion, while total T-Bill bids…
— Cassiel Ato Forson(PhD) (@Cassielforson) March 1, 2025
