Finance Minister Dr. Cassiel Ato Forson says Ghana has regained the confidence of the international capital market, with investors now inviting the country to return to the market to raise funds.
He attributed the development to what he described as prudent economic management by the John Mahama administration, saying Ghana had previously been unable to access the international capital market due to the country’s economic challenges.
Dr. Forson, however, stressed that the government is not in a hurry to return to the market.
“The market is inviting us back, but I want to assure you that we are not in a hurry,” he said while presenting the 2026 Mid-Year Budget Statement to Parliament on Thursday, July 23.
The Finance Minister said the implementation of the 2026 Budget remained firmly on course, with the government achieving its targets for the first half of the year.
He said the reduction in the policy rate to 14 per cent in July was creating room for businesses and investors to access credit at lower interest rates and expand their operations.
“Lower policy rate is creating room for investors to expand,” Dr. Forson stated.
He also said the Ghana cedi had stabilised and expressed confidence that the country would achieve its end-year fiscal deficit target of 1.5 per cent of GDP.
According to Dr. Forson, the improvement in key economic indicators has contributed to renewed confidence in Ghana’s economy.
He said the country’s economic recovery was the result of sound fiscal discipline and what he described as superior economic management.
The Finance Minister further clarified that debt restructuring does not create fiscal discipline but rather creates fiscal space for governments to implement sound economic policies.
He said the Mahama administration inherited an economy burdened by excessive borrowing, reckless spending and weak accountability.
“President Mahama took over an economy with reckless spending, excessive borrowing and lack of accountability. President Mahama took over an economy that was on its knees,” he said.
Dr. Forson also recalled the significant depreciation of the Ghana cedi during the 2022 economic crisis, which he attributed to poor policy choices, excessive spending and unsustainable borrowing.
“The progress Ghana is recording today did not happen by chance. It is superior economic management,” he added.
He cautioned that Ghana must not return to a period of excessive currency depreciation and economic instability, stressing the need to maintain fiscal discipline and avoid the policy mistakes that contributed to the 2022 economic crisis.
Story by Freedom Etsey Lavoe
