Excessive borrowing ‘cracked’ Ghana’s economy under Akufo-Addo – Haruna Iddrisu
Education Minister Haruna Iddrisu has blamed excessive borrowing under former President Nana Akufo-Addo’s administration for Ghana’s economic difficulties. He criticised the previous government’s management of public debt. “Currently, the economy, as I indicated, my measure is to look at the NPP’s own standing and lack of criticism of the state of the economy; for me, […]
Education Minister Haruna Iddrisu has accused the previous government, led by former President Nana Akufo-Addo, of excessive borrowing that has crippled Ghana's economy. He criticized the NPP's handling of public debt, stating that the current administration, while acknowledging past shortcomings, has managed to stabilize the economy and reduce debt levels.
Iddrisu defended the Mahama administration's economic performance, highlighting improvements in currency stability that have benefited businesses. He emphasized the government's efforts to extricate Ghana from its economic crisis. Meanwhile, the International Monetary Fund (IMF) has raised its economic growth forecast for Ghana in 2026 to 5.7%, up from the previously projected 4.6%, despite ongoing global economic challenges.
This growth projection marks a 1.1 percentage point increase from the April estimate. The IMF's outlook report, released during the Annual IMF/World Bank Meetings in Bangkok, Thailand, projects year-end inflation at 4.8%.
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