Former President John Dramani Mahama
Former President John Mahama says the government’s posture with domestic bondholders in the debt restructuring programme is problematic.
In an address at Chatham House in London on Friday, January 27, 2023, Mr. Mahama said what has been the contention is the lack of dialogue and consultation with the debt holders on the domestic side.
“I know that negotiations are taking place with the bondholders on the external side but not the same treatment on the domestic side,” the former leader bemoaned.
Meanwhile, he noted that it is unacceptable that the government’s expenditure will still increase amid the current economic crisis.
He slammed the government for not making the same sacrifices it’s asking the people to do.
He said despite the economic turmoil, the government’s expenditure keeps increasing, adding that “One would have thought that in this crisis you’re not going to increase your debt in this budget by 82 billion over last year. 2023 Budget has seen the government’s expenditure increased by 82 billion over 2022.”
He stressed: “That is not the government that is serious about making the same sacrifices it is asking the people to do. And that is our concern with this Debt Restructuring programme.”
