Private legal practitioner, Abraham Amaliba ,a leading commentator criticized the New Patriotic Party (NPP) administration, argued that a change in government is essential to address Ghana's escalating public debt crisis. He accused the current administration of prioritizing personal interests over the needs of Ghanaians and suggested that removing them from office is a crucial first step in stopping the economic decline.

“When you vote people into government you expect them to think for the people but these people think for their stomachs. The first step to stop the bleeding is to let this government go.

“Then what the next government should focus on are the areas we import so much and use hard currencies to import, let us begin to deal with those sectors,” he said on the Big Issue on TV3 Friday, July 27 while commenting on Ghana’s public stock which stood at GH¢742 billion, representing US$50.9 billion as of June 2024, according to the Finance Minister Dr Mohammed Amin Adam.

The Finance Minister, Dr. Mohammed Amin Adam, reported that as of June 2024, Ghana's public debt has reached GH¢742 billion (approximately US$50.9 billion), constituting 70.6% of the country's Gross Domestic Product (GDP). This debt is divided into GH¢452 billion in external debt and GH¢290 billion in domestic debt, representing 60.9% and 39.1% of the total debt stock, respectively. The debt increased by 22% due to the depreciation of the cedi and ongoing disbursements from creditors.

Dr. Adam assured that the government is adhering to its budgetary constraints, having managed expenditures within the 2024 budgetary limits and exceeded midyear revenue targets by 0.2% as of June 2024. He also highlighted the government's commitment to achieving a primary surplus of 0.5% of GDP by the end of the year.

Further, he noted the successful completion of the second review of Ghana's Extended Credit Facility with the IMF, which resulted in a third tranche disbursement of US$360 million, bringing the total to about US$1.6 billion. The debt restructuring with the Official Creditor Committee (OCC) has yielded US$2.8 billion in debt relief, eliminating debt servicing from 2023 to 2026. Negotiations with Eurobond holders have also led to a US$4.7 billion debt cancellation and US$4.4 billion in debt service relief for the same period.