The current New Patriotic Party (NPP) government, under the leadership of Nana Addo Dnqua with Dr. Bawumia, Vice President (a.k.a The Driver’s Mate) and Head of the “FANTASTIC” Economic Management Team is on record to have contracted the highest amount of loans since Ghana’s independence.
Within eight years (2008 – 2016) under the late John Evans Atta Mills and John Mahama’s leadership, the country borrowed GHS112, 426.14 billion.
Specifically, as Vice President and Head of the Economic Management Team, John Draani Mahama supervised the contraction of a total amount of 26,162.74 ($ 49,709.2)as loans on behalf of Ghana.
John Mahama’s share of the debt during his tenure as President, with Vice President Paa Kwesi Ammisah Arthur as Head of the Economic Team was 86,263.4 billion cedis ($276,042.88).
Here is the list of loans contracted under the Chairmanship of Dr.Mahmoud Dr. Mahamudu Bawumia as the head of the economic management team in the last 7 years which have been left unpaid.
- Paris Club – 2 billion USD
- Chinese government – 1.9 billion USD
- Non-Paris Club members – 3.8 billion USD
- Chapeltown – 2.5 billion USD
- 8.8 billion USD to the IMF
- 14.9 billion USD to the Eurobond market
- 8.8 billion USD in multilateral debts (the highest in Africa).
- Sinohydro- $2 Billion
- ESLA PLC-$465Million
Specifically, as Vice President (a.k.a The Driver’s Mate) and Head of the “FANTASTIC” Economic Management Team, Dr. Bawumia supervised the contracting of 509.7 Billion as loans in a space of 7 years.
It is imperative to note that the figure represents only external debts and these are loans likely to be paid by your children and grandchildren.
Imagine what Dr. Bawumia will do when he becomes the President himself!
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