An economist and Senior Research Fellow at the University of Ghana, Dr. George Domfeh, has ignited fresh debate over Ghana’s public debt trajectory following a comparative assessment shared on his Facebook page.
In the post, Dr. Domfeh examined debt accumulation under two successive administrations, asserting that the government led by President John Dramani Mahama recorded a slightly higher increase in public debt than that of former President Nana Addo Dankwa Akufo-Addo.
According to his analysis, Ghana’s debt stock grew by approximately $21 billion during the Mills/Mahama era between 2009 and 2016.
In comparison, he noted that the Akufo-Addo administration added about $20 billion to the country’s debt between 2017 and 2024.
Based on these figures, Dr. Domfeh maintained that President Mahama “is the record holder when it comes to debt accumulation,” adding that he could “likely beat his own record.”
“A comparative assessment of Ghana’s public debt accumulation indicates that the Mills/Mahama administration increased the debt stock by approximately $21 billion between 2009 and 2016, whereas the Akufo-Addo administration recorded an increase of about $20 billion over the period 2017 to 2024,” he noted.
“President Mahama istheR record holder when itcomesT to debt accumulation, he is likely to beat his own record”.
The post has since drawn mixed reactions online, with some users backing the economist’s claims while others questioned the methodology and broader economic context behind the figures.
Critics argue that raw debt comparisons may not fully reflect factors such as GDP growth, global economic shocks, and fiscal policy decisions that influenced borrowing over the respective periods.
Ghana’s public debt has remained a central issue in political and economic discourse, especially amid ongoing concerns about fiscal sustainability, inflation, and economic recovery efforts.
Dr. Domfeh’s comments add to the growing public conversation ahead of future political contests, where economic management and debt accountability are expected to feature prominently.
By 1960news.com
