The Danquah Institute has stated that its analysis shows the governing New Patriotic Party (NPP) has wisely utilized borrowed funds across various development sectors.
Contrary to misconceptions, the institute claims that these funds have been judiciously deployed, with tangible evidence validating their allocation.
During the institute's monthly media encounter in Accra, themed "Profiling & Analysis of Ghana’s Debt from 2009 to 2023," Dr. Frank Bannor, a development economist and Head of Research at the Danquah Institute, highlighted contrasting viewpoints within local commentary regarding Ghana's debt situation.
One perspective attributes the mounting debt to factors such as corruption, incompetence, mismanagement, COVID-19, the Russian-Ukraine War, and excess energy capacity payments.
Another viewpoint criticizes the current government for allegedly borrowing to fulfill populist campaign promises.
Dr. Bannor emphasized the importance of examining facts, supported by rigorous research and data, to provide the public with enhanced clarity, information, and context regarding national issues.
He noted that under the NPP government from 2017 to the present, the trajectory of financial resource management has seen a more modest addition to Ghana’s debt stock, averaging about 10.68% annually.
This rate, he argued, is significantly lower than the previous administration's record, suggesting superior economic management by the NPP despite global economic challenges.
The Danquah Institute maintains its advocacy for prudent fiscal policy that prioritizes investments aimed at generating long-term benefits for future generations.
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Danquah Institute