Ghana today is broke — Mahama

He said the country is now saddled with debt, a situation he insisted has exposed the economy to global humiliation.

Delivering a public lecture at UPSA auditorium in Accra on March 22, 2023, Mahama said Ghana under President Nana Addo Dankwa Akufo-Addo is broke.

According to him, “Ghana today is broke. International credit rating agencies have placed us in junk status. Additional state financing can, therefore, not be a viable option on the table. Even if that becomes an option in the future, I recommend that we put in place an explicit Public Funding of Political Parties Bill in a bipartisan and inclusive manner.”

He has called for a law that will make public funding of political parties the way to go.

He said public and state funding of viable political parties will go a long way in reducing corruption in the country.

He further recommended that “should public funding of political parties be scaled up in the foreseeable future, then, an independent and credible institution must be selected to administer the state resources advanced to political parties.

“In that regard, a sharing formula could be established to ensure fairness, and specific disclosure requirements on beneficiary parties.”

He added that political parties are required to declare to the public their revenues and assets and the source of those revenues and assets.

He stated that when elected as President to lead Ghana, he “will come with priceless experience to fix our broken nation.”

He also reiterated his pledge to scrap ex-gratia payment.