President John Dramani Mahama has assured bondholders that his government remains committed to honouring all financial obligations, despite the country’s current economic distress.
“Bondholders can rest assured that they will be paid up to the last pesewa,” Mahama declared during his first State of the Nation Address (SONA) on Thursday, February 27, 2025.
His reassurance comes amid growing concerns over Ghana’s financial stability and the impact of past debt restructuring measures on investors.
Mahama highlighted the massive debt burden left by the previous NPP administration, stating that the energy sector alone was saddled with a GHC 70 billion debt, which has left agencies within the sector struggling to survive.
“The past government left a debt of GHC 70bn in the energy sector; agencies in the sector are struggling to stay afloat,” he revealed.
He acknowledged the severe economic hardship faced by Ghanaians but reaffirmed his commitment to steering the country toward recovery, pledging to confront the crisis head-on with bold economic policies.
Bipartisan economic dialogue
President Mahama also urged the opposition New Patriotic Party (NPP) to actively participate in upcoming national economic dialogues, stressing the importance of collective effort in addressing Ghana’s financial crisis.
“It is my hope that our colleagues on the other side will participate in the economic dialogue, unlike the boycott of the Senchi Forum,” he stated.
The Senchi Forum, held in 2014 during Mahama’s first term, was a national dialogue aimed at crafting economic recovery policies, which the then-opposition New Patriotic Party (NPP) boycotted.
Mahama’s call suggests a renewed effort for bipartisan collaboration in tackling the nation’s current economic woes.
His latest assurances align with his broader “resetting agenda,” a vision aimed at revitalizing Ghana’s economy through structural reforms, job creation, and sustainable development.
“I will confront the economic crisis head-on and reset our country on the path of growth and prosperity
,” he pledged.
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