Ghana’s Finance Minister, Cassiel Ato Forson, will lead the nation’s delegation to the 2025 International Monetary Fund (IMF) and World Bank Spring Meetings in Washington, D.C., marking his inaugural participation in the global forum since the National Democratic Congress assumed office following the 2024 elections.
The meetings, which convene policymakers and financial leaders worldwide, will serve as a platform for Ghana to outline its economic recovery strategy amid ongoing fiscal restructuring.
In a social media statement ahead of the meetings, Forson emphasized Ghana’s focus on “a reset story—a story of hard choices, bold reforms, and a firm commitment to rebuilding our economy in a way that is fair, sustainable, and inclusive.” His agenda includes high-level discussions on global economic stability, job creation, energy accessibility, and food security, alongside bilateral talks with development partners, private investors, and multilateral institutions.
A pivotal moment of the trip will be Forson’s meeting with IMF Managing Director Kristalina Georgieva, where progress on Ghana’s $3 billion loan program and structural reforms are expected to top the agenda. The minister also plans to engage with the Paris Club, credit rating agencies, and U.S. Treasury officials, underscoring Ghana’s resolve to “act boldly and stay the course” in stabilizing its economy.
Ghana’s attendance at the meetings arrives as the West African nation navigates debt restructuring efforts and inflationary pressures, with its IMF-supported program aiming to restore macroeconomic stability. Analysts note that Forson’s messaging will likely seek to reassure international stakeholders of Ghana’s adherence to fiscal discipline, particularly after the country secured a provisional debt treatment agreement with official creditors earlier this year. The outcome of these engagements could influence investor confidence and access to additional financing critical for sustaining recovery efforts.
The Spring Meetings have historically provided debtor nations like Ghana opportunities to negotiate support frameworks, though challenges persist in balancing austerity measures with social equity. As Forson reiterates Ghana’s commitment to reform, observers will monitor how global financial institutions respond to evolving priorities in developing economies grappling with climate vulnerabilities and post-pandemic fiscal strains.
Read His Post Below
Fellow Ghanaians,
This week, I have the honour of leading Ghana’s delegation to the 2025 IMF and World Bank Spring Meetings in Washington, D.C.
This is the first time we are participating in these meetings under the new National Democratic Congress (NDC) administration led by President John Dramani Mahama.
It is a responsibility I carry with deep humility and a strong sense of purpose.
Our mission here is clear. We are here to tell Ghana’s reset story—a story of hard choices, bold reforms, and a firm commitment to rebuilding our economy in a way that is fair, sustainable, and inclusive.
Just a week ago, we reached a significant milestone. Ghana secured a staff-level agreement with the IMF on the fourth review of our ongoing programme. This agreement, when approved by the Board, will unlock approximately 370 million dollars to support our economic recovery.
What is especially important to note is that this progress was achieved despite several structural benchmarks and quantitative targets being missed before we assumed office.
It is a testament to the tireless work that this new administration has put in over the last few months to reverse the fiscal slippages we inherited.
We took bold steps, some ahead of schedule, to stabilise the situation.
One of our immediate priorities has been to address the large buildup of payables in 2024, which resulted in a primary deficit much larger than what had been programmed. We have acted decisively to fix this.
Here are some of the key measures we have implemented:
• We have commissioned the Auditor-General and other oversight bodies to audit all outstanding payables and commitments. This process will help us determine their legitimacy and recommend the necessary corrective actions. The audit will be completed in eight weeks.
• We are amending the Procurement Act to ensure that no central government procurement takes place without prior authorisation from the Minister for Finance. This is to bring discipline and transparency to public spending.
• We are also introducing amendments to the Public Financial Management Act. This will include a debt rule to reduce our debt-to-GDP ratio to 45 percent by 2035 and a requirement to maintain a primary surplus of at least 1.5 percent of GDP annually. We are also legislating the establishment of an Independent Fiscal Council to oversee adherence to these fiscal rules.
• We have operationalised a Compliance Desk at the Ministry of Finance. This will closely monitor how MDAs are complying with their fiscal commitments under the PFM Act.
• Soon, we will begin publishing a Public Financial Management Commitment Control Compliance League Table to rank MDAs based on their level of compliance with financial controls.
These reforms are not just about meeting IMF targets. They are about restoring trust in public finances, ensuring credibility in our budgeting process, and laying a solid foundation for growth.
In fact, many of the structural reforms expected to be completed by the end of 2024 and early 2025 have already been implemented.
That is the urgency with which we are working to reset this economy.
What We’re Doing in Washington!
Throughout this week, I will be participating in a number of important meetings. These include engagements on the global economy, job creation, energy access, and food security.
I will also be holding discussions with development partners, private investors, and international financial institutions.
One of the key highlights of this trip will be my meeting with the Managing Director of the IMF, Kristalina Georgieva.
We will discuss Ghana’s progress, our reform agenda, and how the IMF can continue to support our vision for a stronger and more resilient economy.
I will also be meeting with representatives from the Paris Club, credit rating agencies, the U.S. Treasury, and several others. In every engagement, I will be presenting our case clearly: Ghana is taking responsibility, acting boldly, and staying the course.
Thank you
