If elected president, John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), has pledged to establish a separate, autonomous Debt Management Authority.
This move is part of his plan to enhance transparency in Ghana’s debt management practices.
Addressing supporters in Dodowa, Shai-Osudoku constituency, during his Greater Accra regional campaign, Mahama criticized the country’s current lack of transparency in debt management.
He noted that information on national debt levels is often only revealed during the Finance Minister’s budget presentation, leaving citizens with limited insight into the country’s financial status.
“To address this issue, the NDC plans to create an independent Debt Management Authority,” Mahama said.
“This authority will be led by a dedicated head who will publish quarterly reports on our debt-to-GDP ratios. This will ensure greater accountability and transparency.”
Additionally, Mahama proposed amendments to the Public Financial Management Act to impose stricter borrowing limits.
“We will introduce a clause in the Act to cap borrowing at a percentage of GDP, such as 60%, to prevent future Finance Ministers from accumulating unsustainable levels of debt,” he added.
Mahama’s proposal aims to address concerns about the management of public finances and to protect future generations from excessive national debt.
