President John Dramani Mahama has revealed that Ghana’s Sinking Fund holds just $64,000 and GH¢143,000, contradicting claims by the previous Akufo-Addo administration that it left substantial reserves for debt repayment.
Delivering his first State of the Nation Address (SONA) of his second term on February 27, 2025, Mr. Mahama addressed the dire financial situation inherited from his predecessor.
“There have been claims that buffers were left for ongoing debt repayments in 2025. The reality? The Sinking Fund holds only $64,000 in dollars and GH¢143,000 in cedis,” he disclosed.
He warned of the severe debt burden ahead, stressing that repairing the economy will require hard work and sacrifices.
“Our debt servicing over the next four years will total GH¢280 billion, GH¢150 billion for domestic debt, and GH¢130 billion for external debt,” Mr Mahama emphasized.
His revelation raises concerns about the country’s financial stability and the tough economic road ahead.
