Finance Minister Dr. Cassiel Ato Forson has revealed that Ghana’s economy was in a far more precarious state than initially believed, blaming the previous New Patriotic Party (NPP) administration for severe mismanagement.
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Speaking on the Citi Breakfast Show following his 2025 Mid-Year Budget Review presentation in Parliament, Dr. Forson stated that although he anticipated challenges, the actual fiscal and policy breakdowns were deeper than expected.
“I had some understanding of the situation, but I was shocked by the details. Things were worse than we thought,” he said. “We assumed the IMF programme was on track, only to discover it wasn’t.”
Dr. Forson accused the NPP government of mishandling the International Monetary Fund (IMF) programme and failing to meet key targets. He cited a report by IMF Deputy Managing Director Bo Li, which confirmed the programme had “substantially deviated” from its targets by the end of 2024.
In earlier comments, Dr. Forson described the NPP’s implementation of IMF reforms as “wishy-washy” and driven more by necessity than genuine commitment.
“They didn’t believe in the reforms. They just did it for show,” he asserted.
Under President John Mahama’s leadership, Dr. Forson said the current administration has realigned the IMF programme and restored Ghana’s credibility with international partners. He confirmed that the Fund had approved its fourth review, triggering the release of $367 million in support.
“We are rebuilding trust and setting a stable path forward,” he noted, adding that fiscal discipline remains central to the government’s recovery plan.
