The Member of Parliament for Tano North, Gideon Boako, has provided a breakdown of Ghana’s total public debt, attributing 43% to the National Democratic Congress (NDC) administration and 38% to the New Patriotic Party (NPP) government.

He made these remarks while contributing to President Mahama’s State of the Nation Address (SONA) on Tuesday, March 4, in Parliament.

Boako explained that Ghana’s total public debt currently stands at approximately $49.2 billion.

He stated that between 2009 and 2016, under the NDC government, $21.2 billion was added to the national debt, representing 43% of the total. Conversely, between 2017 and 2024, the NPP government accumulated $18.7 billion, making up 38% of the total debt.

“As of today, 43% of Ghana’s total debt of 721 billion cedis (approximately $49.2 billion) was accumulated between 2009 and 2016 under the NDC administration. Conversely, 38% of our current debt was accrued between 2017 and 2024 under the NPP government,” he stated.

While acknowledging the need for structural reforms to address Ghana’s debt burden, Boako cautioned against reckless fiscal policies that could worsen the situation.

“Facts are facts—we need serious structural reforms as a country to ensure long-term fiscal stability,” he noted. He urged policymakers to take proactive measures to sustain the recent decline in debt accumulation.

The MP further warned that without fiscal discipline, Ghana could soon face another debt crisis, regardless of which party is in power.

“Now that we are witnessing a decline in debt accumulation, it is crucial to resist reckless expansionary fiscal policies that could reverse this progress. If we fail to exercise discipline, it is only a matter of time before we find ourselves in another debt crisis—regardless of which government is in power,” he cautioned.