NDC accuses government of increasing Ghana’s debt stock

The National Democratic Congress (NDC) has accused the Akufo-Addo Government of increasing the country’s public debt stock in its first four years in office by 60 percent which is 180 billion Ghana Cedis.

Ghana’s total public debt stock has increased according to new data released by the Bank of Ghana.

The debt stock, which ended the first quarter of 2021 at GH¢ 304.6 billion, increased by almost GH¢ 30 billion in April and May.

This saw Ghana’s total public debt as at the end of May 2021 rising to GH¢ 332.4.

Speaking during the Party’s Dialogue on the Economy in Accra, Ranking Member on the Finance Committee of Parliament, Cassiel Ato Forson, said given the trend of things, it will be difficult for the country not to default in the repayment of the public debt.

He said the debt stock cannot be linked to the Covid-19 pandemic.

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