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Ghana defaulted on most of its external debt in 2022, prompting a difficult restructuring process nearing completion. Forson added that the government would finalise deals with non-Eurobond commercial creditors to conclude the debt restructuring.
Ghana’s incoming finance minister, Cassiel Ato Forson, has signalled plans to seek additional funding from the International Monetary Fund (IMF) to stabilise the struggling economy. Speaking ahead of a meeting with an IMF delegation in Accra, Forson stressed the importance of working with domestic and international partners to secure much-needed financing.
Ghana defaulted on most of its external debt in 2022, prompting a difficult restructuring process nearing completion. Forson added that the government would finalise deals with non-Eurobond commercial creditors to conclude the debt restructuring.
President John Dramani Mahama, sworn in earlier this week after his December election victory, has pledged to revamp Ghana’s economy by creating jobs and restoring public trust. Key appointments to his cabinet include John Abdulai Jinapor as energy minister and Dominic Akuritinga Ayine as attorney general.
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Forson emphasized the urgent need to overhaul Ghana’s cocoa sector, addressing funding gaps and production challenges. Parliament, where Mahama’s National Democratic Congress holds a majority, must now approve his ministerial nominees.
