Dr. Ato Forson Reaffirms Fiscal Discipline, Transparency at Investor Town Hall Engagement
The Ministry of Finance has held its first investor town hall engagement since 2021, bringing together investors, bankers and bond market specialists, as government intensifies efforts to rebuild confidence in Ghana’s economy and debt market.
Delivering the welcome address, Chief Director at the Ministry of Finance, Patrick Nomo, described the engagement as a significant milestone, expressing optimism that Ghana will not return to a path of debt default.
He reaffirmed the Ministry’s commitment to transparency, policy credibility and sustained engagement with the investor community.
Finance Minister, Dr. Cassiel Ato Forson, assured participants that the economy is firmly on a recovery path, supported by improving macroeconomic fundamentals and disciplined fiscal management.
According to him, Ghana has recorded a strong post-Domestic Debt Exchange Programme (DDEP) performance, citing successive IMF programme reviews with disbursements exceeding US$700 million, a sovereign credit rating upgrade to B- with a stable outlook, and the successful servicing of both domestic and external debt obligations.
He noted that the country honoured over US$1.4 billion in Eurobond payments in 2025, reinforcing its commitment to meeting debt obligations.
Dr. Forson further indicated that inflation has declined sharply to 3.3 percent — a multi-year low — while economic growth has rebounded strongly, driven by sustained expansion in the real sector.
He added that fiscal consolidation remains on track, with government achieving a primary surplus without undermining critical social and infrastructure spending.
Outlining the 2026 macroeconomic framework, the Finance Minister described the targets as “credible and achievable,” stressing that revenue performance is increasingly anchored on domestic mobilisation, with non-oil tax revenue accounting for over 80 percent of total inflows.
On debt management, Dr. Forson detailed proactive liability strategies aimed at addressing refinancing risks, particularly for the 2027 and 2028 maturities.
He explained that government is building buffers through the Sinking Fund by setting aside portions of non-oil tax revenue, while implementing debt reprofiling measures to smooth the maturity profile and reduce interest costs.
The Minister also underscored ongoing reforms to enhance transparency, including the regular publication of issuance calendars and improved communication with market participants.
He added that steps are being taken to strengthen cash buffers and support orderly domestic bond market operations following the expiration of DDEP-related issuance restrictions.
An interactive session followed the presentations, with participants engaging the Minister and his team on fiscal policy, debt sustainability and the market outlook.
Participants at the engagement expressed renewed confidence in the management of the Ghanaian economy, commending government’s commitment to transparency, fiscal discipline and continuous investor engagement.
