“We will not borrow simply because financing is available” – Ato Forson
“Ghana will now proceed with discipline. We will not borrow simply because financing is available,” Dr. Forson said.
Finance Minister Dr. Cassiel Ato Forson has announced that Ghana will adopt a more disciplined approach to financing development projects in order to safeguard debt sustainability and avert a potential debt crisis. This stance was expressed during the Fifth Session of the Ghana–China Joint Commission on Economic, Trade, and Technical Cooperation.
Dr. Forson emphasized that Ghana would no longer borrow simply because financing options were available. Instead, each project must undergo rigorous economic justification, transparent procurement, and contribute to the country's growth, revenue generation, or cost reduction. The minister stressed that infrastructure projects, such as roads, railways, power plants, and industrial enclaves, must deliver tangible benefits to the Ghanaian economy.
According to Dr. Forson, such infrastructure must enhance productivity, create employment opportunities, boost exports, and strengthen Ghana's capacity to honor its financial obligations. The government also intends to diversify its financing sources while maintaining debt sustainability. Dr. Forson affirmed that the country aims to avoid a repeat of the conditions that precipitated the 2022 debt crisis.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
