Finance Minister Dr Cassiel Ato Forson has defended the economic record of the government, insisting that Ghana has moved beyond the difficult period that pushed the country to seek international financial assistance.
Speaking during the presentation of the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr Forson said the government’s economic measures had restored stability, improved investor confidence and created the foundation for long-term growth.
According to him, Ghana’s current economic direction shows that the country is recovering and will not return to the challenges that characterised the recent financial crisis.
“Under the leadership of His Excellency President John Dramani Mahama, Ghana is not going back. Ghana is moving forward,” the Finance Minister told lawmakers.
Dr Forson said the government’s focus on fiscal discipline and responsible economic management had started yielding results, highlighting declining inflation, exchange rate stability and lower interest rates as key indicators of improvement.
He explained that the benefits of the reforms were beginning to reach ordinary citizens, businesses and workers, arguing that improved economic conditions were translating into better purchasing power and increased opportunities for enterprise.
“Purchasing power has improved because inflation has fallen. Entrepreneurs can now borrow at lower interest rates to expand their businesses, while workers are seeing their incomes stretch further because the cedi has stabilised,” he said.
The Finance Minister acknowledged that restoring economic stability required difficult decisions and sacrifices from Ghanaians, but maintained that those measures had helped rebuild the country’s economic foundation.
He said the government remained aware of the pressures facing many households but believed the reforms had positioned Ghana for a stronger and more resilient future.
Dr Forson also pointed to ongoing efforts to strengthen economic institutions and protect the gains made so far, adding that the next phase of government policy would focus on sustaining growth, maintaining debt sustainability and building resilience against future shocks.
His comments come as Ghana prepares for the expected completion of its Extended Credit Facility programme with the International Monetary Fund (IMF). Dr Forson announced that the IMF Executive Board is expected to consider the final review of the programme next week.
He further disclosed that Ghana is expected to move into a 36-month Policy Coordination Instrument (PCI) arrangement with the IMF, which will provide policy support without additional financing.
According to him, the new framework will help strengthen fiscal management, improve transparency, support monetary and exchange rate reforms, safeguard financial sector stability and promote economic diversification.
Dr Forson said successful implementation of these measures would improve Ghana’s chances of achieving investment-grade status and attract more affordable financing for national development projects.
The Finance Minister’s remarks form part of government’s broader message that the economy is recovering after one of the country’s most difficult financial periods, with the administration seeking to assure Ghanaians that recent gains will be protected and expanded.
