Former President John Dramani Mahama has called on African leaders to resist allowing the continent’s debt burden to compromise its dignity or stall its development.
Speaking at the African Union’s Debt Conference in Lome, Togo, the former Ghanaian leader stressed that Africa must move beyond survival mode and instead channel its debts into sustainable progress.
“Our goal is not just to reduce our debts, it is to transform our economy. Debts must not erode our dignity or delay our development. It must finance opportunity and lay the foundation for intergenerational progress,” Mahama asserted.
With many African nations grappling with mounting debt and economic pressure, Mahama’s message struck a chord with policymakers and financial experts at the summit.
He acknowledged Ghana’s own path toward fiscal recovery but emphasized that such efforts must balance macroeconomic reforms with the welfare of citizens.
“Ghana is committed to rebuilding its fiscal buffers, strengthening our institutions, and promoting inclusive growth but our fiscal consolidation must not come at the cost of social protection,” he said.
To ensure resilience and long-term development, Mahama outlined a threefold approach: “One, protecting investments in education, youth empowerment, and rural development.
Two, enhancing debt transparency through the establishment of an independent fiscal council. And three, expanding the role of the Ghana Infrastructure Investment Fund to crowd in private capital.”
