Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has pledged a more disciplined and strategic approach to financing development projects as the country moves to protect its economic stability and avoid another debt crisis.
Speaking at the Fifth Session of the Ghana–China Joint Commission on Economic, Trade and Technical Cooperation, Dr. Forson outlined a new set of priorities for government spending and borrowing.
“Ghana will now proceed with discipline. We will not borrow simply because financing is available,” Dr. Forson asserted, signaling a shift in policy from past practices that contributed to rising national debt.
He emphasized that all projects, whether roads, railways, power plants, or industrial enclaves, must be economically justified, transparently procured, and capable of boosting growth, generating revenue, or reducing costs. “Any road, railway, power plant, industrial enclave or other infrastructure financed through this cooperation must improve productivity, create jobs, increase exports and strengthen Ghana’s ability to repay its obligations,” he said.
Dr. Forson stressed the need for measurable economic benefits from every project funded, particularly in partnership with international stakeholders such as China. He also announced that government would diversify its financing sources while maintaining a firm focus on debt sustainability.
“We will diversify our financing sources, protect debt sustainability and avoid a return to the conditions that led to the 2022 debt crisis,” he stated, underlining the administration’s commitment to prudent fiscal management.
As Ghana looks to the future, Dr. Forson’s remarks set a tone of accountability and discipline, aiming to ensure that development projects deliver real value and that the nation’s finances remain secure.
Source: Apexnewsgh.com