Finance Minister, Dr. Cassiel Ato Forson, has announced a strategic shift in Ghana’s borrowing approach, prioritising loans for high-impact projects that drive economic growth and social progress. The government aims to restore fiscal discipline and ensure debt sustainability.
Dr. Forson emphasised that borrowing for consumption was a thing of the past, and future loans will focus on transformative initiatives. “We’ll only borrow for projects that boost our economy,” he stated during a meeting with the President of the Arab Bank for Economic Development in Africa (BADEA).
A flagship project underway is the new Accra-Kumasi motorway, expected to be completed within two and a half years. This initiative is part of a broader strategy to attract external financing for productivity-enhancing and competitiveness-boosting ventures.
The BADEA President welcomed Ghana’s focus on impactful investments, reaffirming the bank’s commitment to supporting sustainable development projects across Africa.
Ghana’s public debt recently rose to GH¢628.8 billion ($59.9 billion), driven by cedi appreciation earlier this year.
