Ghana Faces $6.1bn Debt-Service Burden in 2027–2029 Due to Akufo-Addo’s DDEP – Haruna Iddrisu
Credit: myjoyonline
Education Minister Haruna Iddrisu says Ghana is expected to face approximately US$6.1 billion in debt-service obligations between 2027 and 2029, which he attributes to debt restructuring and Eurobond negotiations concluded under the erstwhile Akufo-Addo administration.
Speaking on Joy FM’s Super Morning Show on Tuesday, October 13, 2026, the Tamale South Member of Parliament warned that the obligations would continue to put pressure on public finances and constrain resources available for national development.
Mr Iddrisu cited an assessment reportedly by the International Monetary Fund (IMF), which indicates that Ghana faces substantial debt-service payments over the next three years.
He said the financial commitments could narrow the fiscal space available to President John Dramani Mahama’s administration to finance major infrastructure projects, invest in education and implement its broader development agenda.
The Education Minister questioned how much public revenue would remain for critical national priorities when significant resources had to be committed to servicing inherited debt.
He also challenged the New Patriotic Party’s claims of superior economic management, arguing that the consequences of borrowing and the subsequent debt restructuring under the previous administration would continue to affect the country beyond its tenure.
Mr Iddrisu maintained that the current government’s fiscal challenges must be considered in the context of the debt obligations it inherited.
He said the government would have to balance debt servicing with investment in essential public services and measures to support economic growth.
