Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, is leading the country’s delegation to the 2025 International Monetary Fund (IMF) and World Bank Spring Meetings in Washington, D.C., marking the first participation under the new National Democratic Congress (NDC) administration led by President John Dramani Mahama.

In a statement released ahead of the meetings, Dr. Ato Forson emphasised the government's commitment to restoring economic stability and credibility.

"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," he said.

Dr. Forson highlighted the recent achievement of a staff-level agreement with the IMF on the fourth review of Ghana’s ongoing programme.

Once approved by the IMF Executive Board, this agreement will unlock approximately $370 million in funding to support the country’s economic recovery efforts.

He noted that the progress comes despite the new administration inheriting a number of missed structural benchmarks and quantitative targets.

“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,” Dr. Forson stated.

Key Economic Reforms Announced

To address fiscal imbalances and restore confidence in public financial management, the Finance Minister outlined a series of bold reforms:

Auditing of Public Payables: The Auditor-General and other oversight institutions have been tasked to audit all outstanding payables and commitments, with a report expected within eight weeks.

Procurement Reforms: Amendments are being made to the Procurement Act to require prior authorisation from the Finance Minister for all central government procurements.

Public Financial Management Overhaul: Legislative amendments to the Public Financial Management Act will introduce a debt rule aimed at reducing the debt-to-GDP ratio to 45% by 2035, alongside maintaining a primary surplus of at least 1.5% of GDP.

Independent Fiscal Council: Plans are underway to establish an Independent Fiscal Council to oversee compliance with newly introduced fiscal rules.

Compliance Monitoring: A Compliance Desk has been established at the Ministry of Finance to monitor MDAs, with plans to introduce a public ranking system to measure adherence to financial controls.

“These reforms go beyond IMF conditionalities. They are about restoring trust in public finances, ensuring credibility in our budgeting process, and laying a solid foundation for growth,” Dr. Forson emphasised.

Strategic Engagements in Washington

While in Washington, Dr. Forson is scheduled to participate in high-level discussions on global economic trends, job creation, energy access, and food security. He will also hold meetings with key stakeholders, including the Managing Director of the IMF, Kristalina Georgieva, the Paris Club, credit rating agencies, the U.S. Treasury, and other international partners.

“We will present our case clearly: Ghana is taking responsibility, acting boldly, and staying the course,” he assured.

The government’s presence at the Spring Meetings underscores its strategic push to rebuild investor confidence and secure long-term partnerships for Ghana’s economic transformation.