By Sarah Baafi
Ghana’s economic outlook received strong endorsement from international investors during a high-level meeting led by Finance Minister Dr. Cassiel Ato Forson, held in Washington, D.C. The event highlighted Ghana’s efforts in stabilizing its economy and strengthening fiscal management.
Dr. Ato Forson presented encouraging data showing that the Ghanaian cedi has remained relatively stable, with signs of appreciation, while international reserves currently cover four months of imports. “These indicators reflect our government’s firm commitment to restoring macroeconomic stability,” he said.
The Finance Minister also reported robust domestic revenue performance, noting that the Ghana Revenue Authority exceeded its first-quarter target by over 2.4 billion cedis, driven by strong VAT collections and other key taxes. On the expenditure side, the government has maintained allocations for goods and services at 2023 levels to ensure fiscal discipline without compromising essential public services.
“With improved revenue and controlled spending, Ghana is on track to achieve a 1.5 percent primary surplus this year,” Ato Forson stated. He further reassured investors by highlighting the Bank of Ghana’s capacity to meet coupon payments on time, supported by strong reserves that underpin financial stability.
Looking ahead, Dr. Ato Forson announced that the government will unveil a comprehensive debt management strategy in the upcoming Mid-Year Budget Review. “This plan will outline critical steps to sustain economic growth, manage public debt effectively, and maintain investor confidence,” he explained.
Investor response to Ghana’s economic reforms was overwhelmingly positive. One participant commented, “The government’s transparent approach and clear fiscal targets inspire confidence. Ghana is clearly on the right path.”
The meeting reaffirmed growing investor trust in Ghana’s economic direction, supported by ongoing fiscal consolidation, structural reforms, and a recent IMF staff-level agreement expected to unlock $370 million in financial support.
Dr. Ato Forson concluded, “Our commitment to disciplined and transparent financial management is unwavering. Ghana’s economic recovery is gaining momentum, and we are focused on delivering sustainable growth for our people.”
