Ghana's debt is $24 billion - Mahama clears air

Ghana's debt is $24 billion - Mahama clears air

- President Mahama has told Ghanaians exactly how much the country owes as debt

- The opposition NPP has accused the Mahama-led administration of over borrowing

Ghana's debt is $24 billion - Mahama clears air

President Mahama in an exclusive interview with Bridget Otoo on TV3 New Day on Monday

President John Mahama has cleared the air on how much Ghana owes exactly; contrary to allegations that his government has borrowed to the tune of $37 billion.

In an interview with Accra based TV3, President Mahama opined that Ghana’s total debt stands at $24 billion instead of the exaggerated figure the opposition New Patriotic Party (NPP) is parading.

“There is a lot of exaggeration about borrowing. The borrowing has not been excessive. I heard one of the candidates say during this government, we have borrowed $37 billion; the total debt of Ghana, as it stands today from independence, is $24 billion.

“How can this government have borrowed $37 billion? Does it make mathematical sense to you? And then this person goes repeating it over and over again for what purpose you don’t know,” the president quizzed

He challenged the NPP to come out with the truth and facts on the ground. “We must tell people the truth. The thing is, you can’t lie your way to power,” he added.

READ ALSO: I will debate Nana Addo any day - Mahama

President Mahama also in the interview said supported an upward adjustment of the margin of preference given to local content under the Public Procurement Act.

The president proposed  that the threshold should be pegged at 20 percent from the about existing 12-15 percent.

Section 60 (1) of Act 663 states that “A procurement entity may grant a margin of preference for the benefit of tenders for work by domestic contractors or for the benefit of tenders for domestically produced goods or for the benefit of domestic suppliers of services.”

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