Finance Minister Dr Cassiel Ato Forson says government is working to institutionalise ongoing economic reforms to prevent a recurrence of the economic crisis Ghana experienced in 2022.
According to him, the reforms are intended to provide a lasting framework for economic stability while creating the conditions for private-sector-led growth and investment.
Dr Forson said the government’s long-term objective is to use the current economic stability as a foundation to transform the economy.
“Our long-term goal is to ensure that this reform that we are putting in place are institutionalised to avoid future crisis of the scale that we saw in 2022,” he said.
He explained that government would focus on entrenching economic stability to make Ghana a more attractive destination for investment, with the private sector expected to play a leading role in the transformation agenda.
The Finance Minister said government is also targeting an improvement in Ghana’s credit standing, with the goal of achieving investment-grade status within the shortest possible time.
“And so we are focusing on ensuring that we can reach investment grade in the shortest possible time, and we need the support of the IFC to push up Ghana to become an investment-grade country,” he added.
Ghana has been implementing fiscal and structural reforms following the economic crisis that culminated in the country’s 2022 debt default. Government has said the reforms are aimed at strengthening fiscal discipline, improving public financial management and rebuilding investor confidence.
The Finance Ministry has also said the government’s new economic programme is intended to move Ghana beyond stabilisation towards job creation, wealth generation and sustainable growth.
Ghana|Atinkaonline.com|Mavis Fantevi
