Despite the current debt levels of the country, President Akufo-Addo has insisted that his government has not been reckless with its borrowing and spending.

President Akufo-Addo made this claim on Wednesday, March 8, 2023, in his speech to Parliament on the State of the Nation Address.

Addressing parliament, President Akufo-Addo admitted that although questions on the country’s debt levels are legitimate, his government has not been reckless with its borrowing and spending as frequently propagated by the Minority.

“We have not been reckless in borrowing and in spending,” he stressed.

He justified that there are enough evidence in the form of flagship projects and programs to show for the borrowings undertaken by his government.

Meanwhile, the government is currently undertaking a Debt Restructuring Program which includes the Domestic and External Debt Exchange Program. This program comes after the debt levels of the country was classified as distressed and unsustainable after a Debt Sustainability Analysis (DSA).

The program is also a condition set by the IMF before supporting the country in its bailout request.