MP Critiques Akufo-Addo on Debt Management

George Kweku Ricketts-Hagan, MP for Cape Coast South, has criticized President Nana Akufo-Addo for advising the incoming Finance Minister on debt management, arguing that Akufo-Addo's record of over-borrowing and defaulting on debts undermines his credibility. Ricketts-Hagan highlighted that during Mahama's term, Ghana maintained a sustainable debt level of GHS 120 billion and never defaulted, while the current administration has seen the debt rise to GHS 807.8 billion. Meanwhile, financial experts suggest that individuals recovering from holiday spending-related debt should assess their financial situations, communicate with lenders about possible assistance, and explore loan modifications. In Australia, a young woman went viral expressing disappointment over minimal relief from her HECS-HELP debt after the government announced reductions in indexation rates. Finally, Tim Price, a UK fund manager, warns of impending inflationary crises linked to government debt and the potential for gold to benefit from such economic conditions.