Former President John Mahama has blamed Ghana's high debt on the Finance Minister, Ken Ofori-Atta's alleged taste for loans.

According to the former statesman, the Finance Minister is unable to stay away from acquiring loans for the country due to the commissions he reportedly receives from every transaction.

“On every loan, he has a commission. That’s why he likes loans,” Mr Mahama said during a meeting at the Obogu Lorry Station as part of his campaign tour ahead of the 2024 general elections on Friday.

He also asserted since the entire Akufo-Addo-led government benefit from the deals, the president is unable to relieve the Finance Minister of his responsibilities despite calls from the opposition and some Ghanaians.

Mr Mahama observed, insisting that is the reason why the Finance Minister continues to stay in office even when NPP MPs have called for his resignation.

The presumptive Presidential Candidate of the NDC also alleged that Mr Ofori-Atta pockets commissions from the loan agreements.

“They benefit from the loans,” he said on Friday.

Per reports, over GH¢450 billion of loans contracted by the ruling party since assuming office in 2017.

Due to the continuous presence of Mr Ofori-Atta at the Finance Ministry, Mr John Mahama is of the notion that the government is running a ‘family and friends’ business with the state coffers.

Meanwhile, government is working on restructuring its debt to win a credit facility worth $3 billion from the International Monetary Fund (IMF) in order the economy currently in crisis.

Source: The Independent Ghana