If I was still Ghana's president I wouldn’t have borrowed recklessly – Mahama jabs Akufo-Addo

Former President, John Dramani Mahama has lambasted President Akufo-Addo’s government over what he described as reckless borrowing.

Delivering a lecture at the Chatham House in the United Kingdom on Friday, January 27, the leading member of the opposition National Democratic Congress (NDC) stressed that the reckless borrowing of the ruling government is what has brought Ghana’s economy to its knees.

According to him, if he was still President, he wouldn’t have been reckless. He argues that even if he was going to borrow, he would do so prudently to ensure the country’s finances are managed very well.

“What we would have done differently. I would have not borrowed recklessly as they did. We would have borrowed prudently and we would have taken better management of our finances,” John Dramani Mahama said.

During his lecture, the former Ghana President admonished the government to do more consultations on the Domestic Debt Exchange Programme to ensure Ghanaians are not made to suffer more hardships.

“I do think that the debt restructuring there should be more dialogue. I noticed that the period has been extended. I think this is about the third time and one wonders if we would be able to meet that deadline by the end of January.

“And the point is the longer it delays the more the danger that we will not be able to go to the IMF board when it meets somewhere towards the spring. This thing must be speeded up and the only way it can be speeded up is when the Finance Minister climbs down his high horse and is prepared to sit with the bondholders and discuss it and reach a consensus,” John Dramani Mahama shared.

The lecture among other things saw the former President discussing the prospects for economic recovery and growth on the African continent in light of the recent debt crisis that has compelled African countries including Ghana to seek debt treatment under the G20 Common Framework.

Ex-President Mahama at the lecture today shared with his audience his ideas and insights on the key economic and governance reforms required for economic stability and prosperity across Africa.

He also discussed priorities for regional integration and Africa's role and responsibilities in global economic governance.