Government has denied reports that it had borrowed sums of money amounting to three billion dollars in its first three months in office.
There had been reports, especially on social media that the Akufo-Addo government which is just a 100 days old had already added about three billion dollars to Ghana's debt stock.
According to the reports, Finance Minister, Ken Ofori Atta had on behalf of government issued a 15-year bond worth $3.2 billion.
This report has not been taken lightly by many who felt the development was in contrast to the New Patriotic Party's (NPP)Â campaign promise to reduce government borrowing.
But according to the deputy Minister of Information, Kojo Oppong Nkrumah government had not borrowed any monies as being speculated.
Speaking in an interview, the Deputy Information Minister indicated that government had rather gone for a debt swap of existing loan obligation.
This, he explained, was to reduce the financial cost and pressure from the fulfilling country's fiscal obligations.
"What government has done is to renegotiate Ghana's debt portfolio so instead of repaying in 10 years, we'll pay back in 15 years", he stated.
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