Let us please put our political affiliation aside for a minute and think Ghana while reading this document. I have noticed a trend developing as we approach election 2020. The leading political parties have started promising "heaven and earth". Some of these promises are making my stomach turn.

Ghana was a Highly Indebted Poor Country (HIPC) post 2001. We had debt forgiveness after completing the HIPC program. Ghana's total debt as at 2008 was USD $ 8 billion.

As at June 2020 our total debt now is USD $44 billion (GH₵ 255.7 Billion using $ at 5.8). This means everyone of our 29 million population owe GH₵ 8,817.

This situation will certainly get worse because of the Covid-19 pandemic. The world is going to be in a recession for 2 years according to the world bank report.

Many companies that pay good taxes have closed or operating at half capacity. Many people have lost their jobs so not paying any 'Paye'. All this means that our revenue mobilization as a country will be affected.

Oil revenues have declined over 70% at certain point in 2020 and this uncertainty will continue for at least a years more.

With all this dire economic forecast and debt situation, one will have thought our leaders will change their message of free this, free that. In the last 12 years government have borrowed over USD$ 36 billion in the name of development and mega infrastructure. Can we say that as Ghanaians our lives have seen a drastic change?

H. E John Mahama who when in power said we should have fiscal discipline and as a result signed onto the IMF program, is telling us he will borrow and spend USD$ 10 billion in 4 years. As well as pay all the people who has lost money in the financial sector.

Let us interrogate this situation properly as people who already owe GH₵ 8,817. The magic wand of all finance Ministers is to issue bonds. Our current Minister is even talking about 100 year Bond after doing a 41 year bond this year.

There is no real program to reduce our Indebtedness. Why care about the future of the country or burdening the youth. Who cares if the Greece or Lebanon situation happens 20 years from Now.

Some of us have seen the before and after of a 10 year bond, since we started issuing bonds as a Nation in 2007. These debts have not changed the life of average Ghanaians, only the friends and families of politicians have gotten richer as premature babies still die because there is no incubator, $36 billion after.

I am not convinced that with the current underlying problems in Ghana borrowing billions of Dollars is the solution to our problems. Especially when there are no plans to start repaying and reducing these huge debt.

Our friends in the media should assist us to interrogate political leaders how they intend to reduce our national debt and fund all these freebies they promise. Our future oil prospects does not look good at least for the next five years.

No real solution for proper cost recovery within the electricity sector. Our electricity demand is increasing and no future plans to increase generation. A situation which lead to the light outages of 2012 to 2016.

This country has real challenges which cannot be fixed because the country is broke. A leader without making new promises, giving solutions to existing problems and a plan to reduce our National debt will be my hero and earn my vote. As Ghanaians let's be mindful and put the right questions to our leaders.

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The writer, Kwadwo N. Poku is an Energy Analyst in Accra.