Tano North MP Dr. Gideon Boako has challenged the accuracy of President Mahama's statements regarding the Sinking Fund balance left by the previous government. Dr. Boako previously served as Spokesperson at the Office of the Vice President during the NPP administration.
During his State of the Nation Address delivered to Parliament on 27 February 2025, President Mahama stated his previous administration had deposited $250 million into the Sinking Fund for debt servicing before leaving office in 2017. He contrasted this with the current situation, claiming the NPP government left merely $64,000 in the dollar account and GHS 143 million in the cedi account of the Debt Service Reserve Account.
The President emphasised these figures demonstrated economic mismanagement requiring significant effort to address. "The repercussions of reckless debt accumulation and economic mismanagement will require extensive work and sacrifice to repair," President Mahama told Parliament.
Dr. Boako responded through social media, asserting the President presented outdated information. The MP claimed the figures mentioned reflect the balance from August 2024, following the NPP government's third payment to domestic bondholders, rather than the actual January 2025 balance when the administration changed.
The Tano North MP urged the current administration to publish the most recent account balance. "I challenged them weeks ago to publish the balance in the account as of 6th January 2025," Dr. Boako stated in his social media post.
Dr. Boako further claimed additional resources existed beyond what the President acknowledged. He mentioned an auction excess exceeding GHS 700 million remained unspent in the fund. The MP also referenced GHS 3 billion from end-of-year revenue left as a buffer, plus "many more unspent funds in various accounts," which he believes should factor into any assessment of financial reserves left by the previous administration.
During his State of the Nation Address delivered to Parliament on 27 February 2025, President Mahama stated his previous administration had deposited $250 million into the Sinking Fund for debt servicing before leaving office in 2017. He contrasted this with the current situation, claiming the NPP government left merely $64,000 in the dollar account and GHS 143 million in the cedi account of the Debt Service Reserve Account.
The President emphasised these figures demonstrated economic mismanagement requiring significant effort to address. "The repercussions of reckless debt accumulation and economic mismanagement will require extensive work and sacrifice to repair," President Mahama told Parliament.
Dr. Boako responded through social media, asserting the President presented outdated information. The MP claimed the figures mentioned reflect the balance from August 2024, following the NPP government's third payment to domestic bondholders, rather than the actual January 2025 balance when the administration changed.
The Tano North MP urged the current administration to publish the most recent account balance. "I challenged them weeks ago to publish the balance in the account as of 6th January 2025," Dr. Boako stated in his social media post.
Dr. Boako further claimed additional resources existed beyond what the President acknowledged. He mentioned an auction excess exceeding GHS 700 million remained unspent in the fund. The MP also referenced GHS 3 billion from end-of-year revenue left as a buffer, plus "many more unspent funds in various accounts," which he believes should factor into any assessment of financial reserves left by the previous administration.
