I hope Mahama’s government achieves 55% debt to GDP target – Akufo-Addo

Outgoing President Nana Addo Dankwa Akufo-Addo has urged the incoming Mahama administration to achieve a debt-to-GDP ratio of 55% by 2028, emphasizing fiscal responsibility as key to Ghana's economic stability.

He noted progress in reducing the debt-to-GDP ratio from 79.2% in September 2024 to 74.6% in October 2024, with a further decline anticipated through ongoing reforms.

Akufo-Addo highlighted the reduction of public debt by GH₵46.8 billion to GH₵761.01 billion within a month and reaffirmed his administration’s commitment to honoring debt obligations, including $346 million in Eurobond payments made on January 3, 2025.

The President advised the new government to prioritize debt sustainability under the IMF program, ensuring long-term financial stability while maintaining Ghana’s reputation for meeting its debt commitments.