Ato Forson leads Ghana to participate in first IMF /World Bank Spring Meetings in Washington DC

Ghana’s Finance Minister, Dr. Cassiel Ato Forson, is leading the country’s delegation to the 2025 IMF and World Bank Spring Meetings in Washington, D.C. This is the first participation under President John Dramani Mahama's new NDC administration.

In a statement before the meetings, Dr. Forson emphasized the government's commitment to economic stability. He said, "We are here to tell Ghana’s reset story." This story includes hard choices and bold reforms aimed at rebuilding the economy fairly and sustainably.

Dr. Forson highlighted a recent achievement: a staff-level agreement with the IMF on Ghana’s fourth program review. Once approved by the IMF Executive Board, this will unlock about $370 million for economic recovery efforts. He noted that this progress comes despite inheriting missed benchmarks and targets.

“It shows the tireless work of this new administration,” he stated. The government aims to reverse fiscal slippages inherited from previous leadership.

Key Economic Reforms Announced

To address fiscal imbalances, Dr. Forson outlined several bold reforms:

1. Auditing Public Payables: The Auditor-General will audit all outstanding payables within eight weeks.

2. Procurement Reforms: Amendments will require prior authorization from the Finance Minister for central government procurements.

3. Public Financial Management Overhaul: Legislative changes will introduce a debt rule to reduce debt-to-GDP ratio to 45% by 2035.

4. Independent Fiscal Council: Plans are underway to establish an Independent Fiscal Council for oversight of fiscal rules.

5. Compliance Monitoring: A Compliance Desk at the Ministry of Finance will monitor MDAs and introduce a public ranking system.

“These reforms go beyond IMF conditions,” Dr. Forson emphasized. They aim to restore trust in public finances and ensure credible budgeting processes.

Strategic Engagements in Washington

While in Washington, Dr. Forson will engage in discussions on global economic trends, job creation, energy access, and food security. He plans to meet with key stakeholders like IMF Managing Director Kristalina Georgieva and representatives from credit rating agencies and the U.S Treasury.

“We will present our case clearly: Ghana is taking responsibility,” he assured attendees.

The government's presence at these Spring Meetings highlights its push to rebuild investor confidence and secure long-term partnerships for economic transformation in Ghana.