Government Confident Ghana Has Moved Beyond IMF Bailouts – Ato Forson

Finance Minister Cassiel Ato Forson says Ghana is making strong economic progress and will not require another bailout from the International Monetary Fund anytime soon.

Addressing Parliament on Thursday, the Minister said the government inherited a difficult economic situation marked by high debt levels, rising inflation, currency instability and loss of investor confidence. He explained that the administration of President John Dramani Mahama introduced several reforms aimed at restoring macroeconomic stability and rebuilding the economy.

Dr Forson noted that the government implemented measures to improve fiscal discipline, reduce excessive spending and strengthen debt sustainability. These included reforms to public financial management systems, reduction in the size of government, and the removal of taxes such as the E-Levy and Betting Tax.

According to him, the economy has recorded significant improvements, with inflation declining sharply, debt levels reducing, and economic growth strengthening in 2025. He also stated that Ghana’s debt-to-GDP ratio has dropped below the government’s long-term target ahead of schedule.

The Finance Minister further highlighted improvements in the country’s external sector, including a stronger cedi, lower Treasury bill rates and improved investor confidence.

He stressed that the government’s objective is to ensure that Ghana does not return to the cycle of repeated IMF bailouts, adding that the country is transitioning from economic crisis management to sustainable growth and stability.