Ghana’s Finance Minister, Dr. Cassiel Ato Forson, is spearheading the country’s delegation to the 2025 IMF and World Bank Spring Meetings in Washington, D.C. This marks the first official participation under President John Dramani Mahama’s new National Democratic Congress (NDC) administration.
The meetings follow Ghana’s recent staff-level agreement with the IMF on the fourth review of its support programme, an achievement that could unlock $370 million in funding to support the nation’s ongoing economic recovery.
According to the Finance Ministry, the agreement, secured despite missed targets under the previous administration, signals renewed international confidence in Ghana’s fiscal direction.
The Mahama administration has launched a swift reform agenda aimed at restoring macroeconomic stability, curbing arrears, and improving public financial management.
Key measures include:
- A comprehensive audit of outstanding government payables to be completed in eight weeks.
- Amendments to the Procurement Act, requiring Finance Minister approval before any central government procurement.
- Reforms to the Public Financial Management (PFM) Act, setting a 45% debt-to-GDP target by 2035 and mandating a 1.5% annual primary surplus.
- Creation of an Independent Fiscal Council and a Compliance Desk at the Finance Ministry.
- Introduction of a PFM Compliance League Table to rank Ministries, Departments, and Agencies (MDAs) on financial discipline.
Many of these reforms have been implemented ahead of schedule, underscoring the administration’s commitment to fiscal responsibility.
High-Level Engagements in Washington
During the meetings, Dr. Forson is in expected to engage with global partners on key development priorities, job creation, energy access, food security, and climate resilience.
A key moment will be his meeting with IMF Managing Director Kristalina Georgieva to discuss Ghana’s economic reforms. He will also meet with representatives from the Paris Club, rating agencies, the U.S. Treasury, and other development institutions.
At the center of Ghana’s message is what Dr. Forson calls “Ghana’s reset story”, a bold vision to stabilize the economy, ensure debt sustainability, and promote inclusive growth while safeguarding the most vulnerable and advancing long-term development goals.
