Eucation Minister and Member of Parliament for Tamale South, Haruna Iddrisu, has called for a ceiling on Ghana’s borrowing to prevent the nation from plunging further into debt.
Speaking in Parliament, Iddrisu emphasized that unrestricted borrowing is harming the country’s economy, adding that Parliament must act decisively to impose limits.
“Ghana needs to have a ceiling on how much we can borrow. It cannot be at every time as it pleases the Finance Minister,” he stated, criticizing the government’s borrowing appetite between 2017 and 2021, which he noted reached $3.5 billion compared to the previous administration’s $1.5 billion.
Iddrisu also highlighted the government’s inability to complete critical projects, including the Agenda 111 hospitals, which he said would have significantly improved healthcare delivery if even a few had been operational.
He urged Parliament to prioritize the nation’s long-term stability over short-term political gains, stating, “Your overambitious initiative got none completed. You were more interested in winning votes at the December election than caring for Ghanaians.”
The call for a borrowing cap comes amid rising concerns over Ghana’s public debt, prompting stakeholders to advocate for stronger fiscal discipline.