Mahama Criticizes Government for Mismanagement of $11.5bn Loan Facility
Mahama Criticizes Government for Mismanagement of $11.5bn Loan Facility
- Mahama has accused the current government of mismanaging an $11.5 billion loan facility borrowed over the past eight years.
- Mahama argued that if these funds had been properly managed, they could have been invested in transformative projects
- Mahama said President Nana Addo Dankwa Akufo-Addo borrowed $11.5 billion in just five years
John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), has accused the current government of mismanaging an $11.5 billion loan facility borrowed over the past eight years.
Mahama argued that if these funds had been properly managed, they could have been invested in transformative projects that would have propelled Ghana’s development, potentially putting it on par with cities like Dubai.
Speaking to the Muslim community at a special prayer service at the Great Hall of Kwame Nkrumah University of Science and Technology (KNUST) in the Ashanti Region, Mahama compared the performance of the current administration with his own time in office.
He pointed out that during his tenure, his government borrowed $3.5 billion, which was used to finance key infrastructure projects, including the expansion of Tema Harbour, the construction of Terminal 3 at Kotoka International Airport, and other developments aimed at boosting the nation’s growth.
“President Nana Addo Dankwa Akufo-Addo borrowed $11.5 billion in just five years. In contrast, despite the major developmental projects I led during my presidency, we only borrowed $3.5 billion,” Mahama stated.
