Mahama urges Africa to transform debt into development at AU conference

Former President John Dramani Mahama urged African leaders to address the continent's debt issues. He spoke at the African Union’s Debt Conference in Lome, Togo. Mahama emphasized that Africa should not let debt compromise its dignity or hinder development.

He stated that Africa must move beyond survival mode. Instead, debts should be used for sustainable progress. “Our goal is not just to reduce our debts,” he said. “It is to transform our economy.”

Mahama highlighted that debts should finance opportunities and support future generations. His message resonated with policymakers and financial experts at the summit. Many African nations are facing significant debt and economic challenges.

He acknowledged Ghana's efforts toward fiscal recovery. However, he stressed the need for balance between reforms and citizen welfare. “Ghana is committed to rebuilding its fiscal buffers,” he noted.

Mahama outlined a threefold approach for resilience and long-term development. First, protect investments in education, youth empowerment, and rural development. Second, enhance debt transparency by creating an independent fiscal council. Third, expand the role of the Ghana Infrastructure Investment Fund to attract private capital.