President-elect Mahama Calls for Urgent Energy Sector Reforms to Avoid Economic Collapse
President-elect John Dramani Mahama has raised alarms over Ghana’s struggling energy sector, describing it as a critical threat to the nation’s economic stability. Speaking during a courtesy visit by Canadian High Commissioner Myriam Montrat in Accra on Friday, Mahama called for immediate and comprehensive reforms to address the sector’s growing challenges.
“The energy sector needs urgent surgery; otherwise, it can collapse everything,” Mahama cautioned, emphasizing the fragility of the sector.
Concerns Over Economic Debt Burden
Mahama criticised the outgoing administration’s narrative of economic recovery, pointing to a looming $2.5 billion energy sector debt that remains unresolved. Comparing the debt to Ghana’s $3 billion bailout, he questioned the sustainability of current economic claims.
“You have a $2.5 billion debt, your bailout is only $3 billion, and so $2.5 billion sitting and breathing—and you say the economy is turning around,” he remarked.
Mahama argued that this unresolved debt poses a significant threat to progress, suggesting that the outgoing government’s portrayal of economic stability is misleading.
Transparency and Reforms Pledged
The President-elect assured Ghanaians that his administration would be transparent about the true state of the economy. He pledged to open the country’s financial records to provide clarity on the challenges ahead and build public understanding for the necessary recovery measures.
“We are going to open the books when we come and let Ghanaians know what the true situation is. If Ghanaians understand the reality, they will appreciate the measures we will have to take to bring things back,” Mahama stated.
He reaffirmed his administration’s commitment to implementing reforms aimed at ensuring efficiency, sustainability, and a reliable energy supply for all citizens.
Mahama’s remarks come amidst growing concerns about Ghana’s energy sector debt and its potential impact on economic recovery efforts. His administration is expected to prioritize energy sector reforms as part of broader efforts to stabilize the economy.
