By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Fact Check GhanaFact Check GhanaFact Check Ghana
  • Home
  • Politics
  • Elections
  • Economy
  • Education
  • Monthly Round-ups
  • Resources
    • Blog
    • Videos
    • Politics
      • 16 Regions in Ghana
      • Regional Ministers
Font ResizerAa
FourthEstate FourthEstate
  • Home
  • Politics
  • Elections
  • Economy
Search
  • Home
  • Politics
  • Elections
  • Economy
  • Education
  • Monthly Round-ups
Follow US
  • Videos
  • Regions in Ghana
  • Regional Ministers
© 2024 Fact-Check Ghana
EconomyReports

Ghana is not the world’s most indebted. Mahama’s claim misleading

francis-kusi
December 15, 2023
John Mahama, Former President and Flagbearer of the NDC
SHARE

On Wednesday, December 13, 2023, Former President John Dramani Mahama alleged that Ghana is the most indebted country in the world citing a viral flyer making rounds on social media.

The Former President and Flagbearer of the New Democratic Congress ( NDC ), H.E John Dramani Mahama made this claim on his  “Building Ghana Tour” when he addressed the Wiaso Omanhene upon paying him a courtesy visit. His visit to the Omanhene was streamed live on Woezor TV on Facebook.

Fact-Check Ghana has verified the former president’s claim and presents the facts below.

Claim: “Recently, I was looking at a paper and it said ‘The most highly indebted countries in the world’, Ghana is leading. We owe 31 billion Dollars“

Verdict: Misleading

Explanation:

The Former President of Ghana referenced a recent artwork widely shared on social media, showing various African countries and their debt levels. (see below).

Fact-Check Ghana’s verification indicates that the list in the artwork is contained in the U.S – China Economic and Security Review Commission’s 2023 Annual Report to Congress. The figures show the cumulative debt of nations who have participated in the Highly Indebted Poor Country (HIPC) initiative from loans provided by China only (see page 88).

According to the report, Ghana indeed has accumulated a significant debt of $31.1 billion from China. This makes Ghana the country with the highest debt to China out of the lot who have benefited from the HIPC programme. The detailed breakdown of other African countries and their corresponding debts includes Guinea with $21.9 billion, Ethiopia with $14.8 billion and Tanzania with $12.6 billion. Thus, Ghana’s $31.1 billion debt does not mean Ghana is the most indebted in the world, but rather the most indebted to China among HIPC beneficiaries.

Screengrab of page 88 of the U.S – China Economic and Security Review Commission’s 2023 Annual Report to Congress

Also, even though Ghana remains one of the countries with a high debt-to-GDP ratio in the world, according to the World Bank’s data, the country is not the most indebted. Ghana’s debt-to-GDP ratio is lower than many countries including Congo, Democratic Republic of Congo, Zambia, Zimbabwe and Sierra Leone.

In conclusion, NDC Flagbearer John Dramani Mahama’s claim that Ghana is the world’s most indebted country because of the $31.1 billion debt owed to China is misleading.

Pres. Mahama’s Letter to Supporters Fact-checked: Corruption Claim – Half True
Akufo-Addo’s claim on fuel queues in France misleading
False! Betway Didn’t Announce10 Times Returns After its COVID-19 Fund Donation
Akufo-Addo’s claim on food security, economic growth at UN General Assembly false
Ministerial Vetting: Claims About Unemployment Rate, Banking Sector Job Losses False
Share This Article
Facebook Copy Link Print

Latest News

Health Insurance enrollment: Contradictions in claims by Mintah Akandoh and Ato Forson
Featured
Appeal for public support – The Fourth Estate journalism project
Featured
Mustapha Gbande’s claim that Narcotics Control made no drug-related arrest during Akufo-Addo’s tenure false
Featured
False, misleading claims on Ghana’s vote at the UNHCR and LGBTQ issues
Featured
Fact Check Ghana

Fact-Check Ghana is a fact-checking project of the Media Foundation for West Africa (MFWA).

Useful Links

  • About Us
  • The Team
  • Funders
  • Contact
  • Our Methodology
  • Ethics Policy
  • Corrections Policy
2025 Fact-Check Ghana | A project of the Media Foundation for West Africa
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?