The Flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has promised to work with the International Monetary Fund to renegotiate Ghana's debt terms if elected.

He highlighted the need to service two significant debts between 2026 and 2028: domestic debt and commercial debt.

Mahama emphasised the importance of maintaining sustainable debt levels for the country's future trajectory.

In an interview on Bloomberg Television, Mahama stated, “We are not party to the debt renegotiation, We are also not party to the IMF program but we have had the opportunity to meet the Country Director of the IMF to brief us quite largely on a lot of what the two agreements entail; the IMF debt and the debt renegotiation.”

He explained the substantial payments due in 2026 and 2028 for domestic and commercial debts, respectively, and expressed the need to refinance these debts to ensure a smoother repayment trajectory.

“If you look at the graph, in 2026 where a big chunk of the domestic debt is supposed to be paid about 182 billion cedis and a big payment in 2028 which is the commercial debt. We need to look at how we can refinance this so that we can smoothen out the trajectory of the debt repayment,” he said.

Mahama also expressed his intention to engage with the IMF early on if elected to work together on debt sustainability.

“We want to engage the IMF very early when we win to see how we can work together to maintain the sustainability.”

Additionally, he mentioned plans to create a more favorable environment for the upstream petroleum sector to attract investors and increase Ghana's oil and gas production.

“We want to increase our oil and gas production over the last year Ghana has not been a very friendly environment to upstream producers and so we are trying to get as many of them to come back,” he concluded.



SSD/MA

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