“Ghana Must Borrow Wisely, Not Stop Borrowing”— NDC’s Acheampong Defends Government’s Loan Strategy
The Deputy Constituency Treasurer of the National Democratic Congress (NDC) in Biakoye, Christian Kwabena Acheampong, has mounted a strong defence of the government’s domestic borrowing strategy, insisting that borrowing remains a critical tool for national development when funds are used responsibly.
Speaking on the Bubune Morning Show hosted by Nana Yaw Asiamah, Mr. Acheampong argued that borrowing is a global economic practice and should not be misinterpreted as evidence of failure.
According to him, every government prepares its budget around projected revenue and expenditure, and when expenditure exceeds revenue, borrowing becomes necessary to finance development.
“The problem is not borrowing. Every country, including developed nations, borrows. The real issue is whether the borrowed money is invested in projects that improve the economy and benefit the people,” he said.
He compared government borrowing to an individual taking a bank loan to invest in a business, stressing that loans must generate returns that enable repayment rather than being diverted to unrelated activities.
Mr. Acheampong noted that Ghana currently relies more on domestic borrowing because the country lost easy access to international credit markets after previous economic challenges. He said the current administration has therefore adopted fiscal discipline to ensure prudent management of available resources.
He maintained that borrowed funds are being channelled into productive sectors, citing road infrastructure, agriculture, entrepreneurship and youth employment programmes.
He highlighted ongoing road projects under the government’s infrastructure agenda, saying they are creating jobs, opening up communities for trade and reducing the cost and time of transporting goods.
Improved roads, he explained, boost commercial activity, help farmers move produce more efficiently and ultimately expand the country’s tax base.
Mr. Acheampong pointed to government investments in agriculture, including fertiliser support and the poultry initiative, noting that the programme has helped hundreds establish viable poultry farms. In his constituency alone, he said about 200 people have benefited, with many already recording encouraging progress.
He also praised the Adwuma Wura initiative, describing it as a programme that supports small businesses through a competitive application process, entrepreneurship training and interviews before financial assistance is granted. The goal, he said, is to ensure public funds go to entrepreneurs with viable business plans capable of creating jobs.
On the National Apprenticeship Programme, he said it equips young people with vocational skills while providing both apprentices and master craftsmen with the tools needed for effective practical training — a long‑term investment aimed at reducing unemployment and strengthening Ghana’s productive capacity.
Addressing the Domestic Debt Exchange Programme (DDEP), Mr. Acheampong criticised the previous New Patriotic Party (NPP) administration, saying many investors experienced delays in accessing their investments during the restructuring exercise. He clarified that funds were not permanently lost but acknowledged that the inability of bondholders to access their money when it matured caused significant hardship.
He added that the current government continues to honour domestic debt obligations while working to restore confidence in the economy.
Mr. Acheampong urged Ghanaians to support government efforts by paying taxes and ensuring public revenue is not lost through corruption or leakages. He called on revenue collectors to account for every cedi collected, arguing that improved domestic revenue mobilisation would reduce Ghana’s dependence on borrowing.
Responding to concerns about imposing a ceiling on borrowing, he said governments borrow based on the financing gap between projected revenue and expenditure. The critical issue, he stressed, is not the amount borrowed but whether the funds are used strictly for approved projects.
“The important thing is not simply taking a loan. What matters is ensuring that every borrowed cedi is invested in the purpose for which it was secured so that it delivers value to the people and strengthens the economy,” he concluded.