Finance Minister reassures investors of strong economic recovery
26th March 2026
The Ministry of Finance has held its first investor town hall engagement since 2021, bringing together investors, bankers, and bond market specialists as part of efforts to restore confidence in Ghana’s economy and debt market.
In his opening remarks, Chief Director Patrick Nomo described the event as a significant milestone, expressing optimism that Ghana would not return to a path of debt default. He reaffirmed the Ministry’s commitment to transparency, policy credibility, and continuous engagement with the investor community.
Finance Minister Dr Cassiel Ato Forson assured participants that the economy is on a steady recovery path, supported by improving macroeconomic indicators and disciplined fiscal management.
He highlighted progress made since the Domestic Debt Exchange Programme (DDEP), including successive reviews under the IMF programme, with disbursements exceeding $700 million. He also pointed to a sovereign credit rating upgrade to B- with a stable outlook, as well as the successful servicing of both domestic and external debt, including more than $1.4 billion in Eurobond payments in 2025.
According to the Minister, inflation has declined significantly to 3.3 percent—a multi-year low—while economic growth has rebounded strongly, driven by expansion in the real sector. He added that fiscal consolidation remains on track, with a primary surplus achieved without compromising essential social and infrastructure spending.
Outlining the 2026 macroeconomic framework, Dr Forson described the targets as credible and achievable. He noted that revenue mobilisation is increasingly driven by domestic sources, with non-oil tax revenue accounting for over 80 percent of total inflows.
On debt management, the Minister detailed proactive strategies to address refinancing risks, particularly for maturities in 2027 and 2028. These include building buffers through the Sinking Fund, allocating portions of non-oil tax revenue, and implementing debt reprofiling measures to ease the maturity profile and reduce interest costs.
He also emphasised ongoing reforms to enhance transparency, such as the regular publication of issuance calendars and improved communication with market participants. Additional measures are being implemented to strengthen cash buffers and support orderly domestic bond market operations following the expiration of DDEP-related issuance restrictions.
The engagement concluded with an interactive session, where participants discussed fiscal policy, debt sustainability, and market outlook with the Minister and his team. Many attendees expressed renewed confidence in the management of Ghana’s economy and welcomed the government’s focus on transparency, discipline, and sustained investor engagement.