On September 16, 2019, Gabby Asare Otchere-Darko, a prominent member of the ruling New Patriotic Party (NPP), remarked that the administration was not acting carelessly.

He made his statement after the nation's total debt stock at the time reached $20.671 billion.

Ghana's external debt stock: $18.370 billion in 2014; $20.633 billion in 2015; $21.372 billion in 2016; $21.369 billion in 2017; and $20.671 billion in 2018.

anticipated advancement in 2019.

It indicates that NPP isn't memorizing borrowing, according to a Facebook post by Gabby Asare Otchere-Darko.

According to 2018 records, Gabby Asare Otchere-Darko, a prominent member of the ruling New Patriotic Party (NPP), Ghana's external debt stock is $20.671 billion.

He claims that data on Ghana's debt stock, which spans the years 2014 to 2018, demonstrates that the Akufo-Addo administration isn't borrowing carelessly.

He wrote on Facebook: "Ghana's external debt stock: 2014: $18.370 billion; 2015: $20.633 billion; 2016: $21.372 billion; 2017: $21.369 billion; 2018: $20.671 billion.

anticipated advancement in 2019.

It indicates that NPP is not borrowing automatically.

Recall that the Minority in Parliament lambasted the Akufo-Addo-led government for engaging in excessive borrowing, which they claimed had increased the national debt.

According to them, the latest report of the Monetary Policy Committee (MPC) of the Bank of Ghana places the current national debt at almost GH200 billion as at the end of the first quarter of 2019.

Mr Cassiel Ato Forson, Ranking Member on Finance, speaking at a press conference stated that, despite this insatiable appetite for borrowing, President Akufo-Addo’s government does not have any significant capital investments to show unlike his predecessor, former President John Mahama, who invested borrowed funds in major capital projects across all sectors of the economy, from education, health, housing, roads, energy, communications, aviation and transport, among others.

Mr Forson also said the GH200 billion national debt represents an increase of about GH80 billion in the last two and half years alone, raising the debt to GDP ratio from 56 per cent in 2016 to almost 58 percent.

“We drew attention to the change since 2016 for three reasons related to the Mahama era. First, there was the promise not to borrow. Second, the NPP has benefited from a 25 per cent bonus or increase in GDP, due to the rebasing exercise. Third, the NPP inherited two additional oil fields (Sankofa and TEN) that has almost tripled output and at an average 60 per cent price increase” he added.

According to Mr Forson at the current exchange rate levels, borrowing alone has given President Akufo-Addo government a staggering $16 billion over the period, which excludes GH5.7 billion borrowed under the ESLA Bonds last year.

Mr Forson also noted that the current NPP administration has benefited more in terms of oil revenues received than any other government.

He said the total oil revenues received between 2017 and 2018 and those expected to be received in 2019 currently stands at GH 12, 328, 703, 024.81.

He said President Akufo-Addo’s government has had more money at their disposal than all other governments and should have done far more than is being done presently.

Mr. Forson added that the present borrowing spree poses a threat to the fiscal space made available by the economy's rebasing, which began in 2016 and was completed in September 2018.

He claims it is clear the President sees the opportunity presented by the rebasing as a chance to indulge in reckless borrowing for the purpose of financing consumption-related expenses.

Despite all the resources at his disposal, he claimed, President Akufo-Addo has not been able to keep the majority of the promises he made to the electorate during his campaign.