Ghana will not default ever again, not on my watch – Finance Minister

Finance Minister Dr. Cassiel Ato Forson assured that Ghana will not default on its financial obligations.

He stated that the government is taking strong steps to boost the economy and build investor confidence.

At a meeting with pension sector leaders, Dr. Forson highlighted the need for fiscal discipline. He emphasized long-term financial planning for economic stability.

Ghana's major financial obligations are due in 2027 and 2028. The Minister noted that the government is preparing early to secure necessary buffers.

“It is critical that we do not default,” he said. “We will not wait until 2027 to build buffers.” He added that building a sinking fund is a priority for the government.

The sinking fund will support longer-dated bonds and enhance financial resilience.

Dr. Forson also stressed reopening capital markets. He urged pension funds to help revitalize the secondary bond market.

“The purpose of pension funds is to invest in secondary markets,” he stated. “Reopening the market benefits us all.”

These measures aim to stabilize inflation, strengthen the currency, and restore investor confidence.

“If inflation falls, we all benefit,” he explained. “A stable currency supports economic growth for everyone.”

The meeting included Labour Minister Dr. Rashid Pelpuo and Deputy Minister Ampem Nyarko, who expressed confidence in the government's strategy.

Dr. Pelpuo welcomed efforts to reopen the bond market, stating it would stabilize the economy and reassure Ghanaians about improvements.

Pension fund representatives showed support but raised concerns from past economic challenges.

In response, Dr. Forson firmly reassured stakeholders: “Ghana will not default—ever again, not on my watch.”

The Finance Ministry remains committed to collaborating with all stakeholders for a stable economy in the future.