Ato Forson leads Ghana’s delegation to IMF Spring Meetings

Dr. Cassiel Ato Forson, the Minister of Finance, will lead Ghana's delegation to the 2025 IMF and World Bank Spring Meetings. This is the first participation under President John Dramani Mahama's new NDC administration. The meetings follow a recent staff-level agreement with the IMF on Ghana’s fourth program review. This agreement could release about $370 million to support Ghana’s economic recovery.

The deal is significant because it was reached despite missed targets before the new administration took office. It shows renewed international confidence in Ghana, driven by swift actions from the government. The Mahama-led administration has worked hard to address fiscal challenges. They have fast-tracked key structural reforms and introduced measures for macroeconomic stability.

One urgent issue was a large buildup of payables in 2024, leading to a significant primary deficit. The government has launched a bold reform package to manage arrears and improve financial discipline. Key measures include:

- A comprehensive audit of outstanding payables to verify legitimacy.
- Amending the Procurement Act to require Finance Minister approval for central procurement.
- Reforming the PFM Act to set a debt rule targeting a 45% debt-to-GDP ratio by 2035.
- Establishing an Independent Fiscal Council as part of these reforms.
- Creating a Compliance Desk at the Ministry of Finance to monitor adherence to fiscal rules.

Additionally, they have completed several structural reforms ahead of schedule, showing commitment to resetting the economy.

Throughout this week, Dr. Forson and his team will engage in high-level meetings in Washington. These discussions will focus on job creation, energy access, food security, and climate resilience. A key meeting will be between Dr. Forson and IMF Managing Director Kristalina Georgieva to discuss Ghana’s progress and challenges.

Dr. Forson aims to share “Ghana’s reset story” during these engagements. This vision focuses on restoring macroeconomic stability and ensuring debt sustainability while promoting inclusive growth. It includes protecting vulnerable populations and implementing ambitious structural reforms toward achieving “The Ghana We Want.”