What does Ato Forson mean by net borrowing of GhS7billion? – IERPP asks

The Institute of Economic Research and Public Policy (IERPP) has sharply criticized Finance Minister Dr. Cassiel Ato Forson’s assertion that the Mahama government’s net borrowing is only GHS7.1 billion.

In his X post, Dr. Forson claimed that out of GHS89.7 billion in T-Bill bids since January 10, 2025, GHS59.5 billion were accepted as rollovers of inherited debt, while GHS30.2 billion were rejected, leaving minimal new borrowing.

He argued that this approach, along with a significant drop in the 91-day T-Bill rate from 28.34% to 20.79% in 50 days, demonstrated prudent debt management and investor confidence.

However, IERPP, through Executive Director Dr. Frank Bannor, contended that the government has effectively borrowed GHS67 billion and urged the minister to spare Ghanaians the “financial rhetoric.”