G20 Finance Ministers and Central Bank Governors Meeting of the year, held in Washington DC
Apr 25, 2025
Ghana to Borrow Only for Transformative Projects as Debt Levels Improve – Finance Minister
Accra, September 17, 2025
Finance Minister Dr. Cassiel Ato Forson says Ghana will maintain a disciplined borrowing strategy, focusing solely on projects that deliver long-term economic and social benefits, as the country records marked progress in debt sustainability.
Speaking during a meeting in Accra with Abdullah KH Almusaibeeh, President of the Arab Bank for Economic Development in Africa (BADEA), Dr. Forson stressed that new loans will be targeted at transformative infrastructure and development initiatives not routine spending.
Bank of Ghana data shows Ghana’s total public debt dropped from GH¢763.8 billion (64.9% of GDP) in July 2024 to GH¢628.8 billion (44.9% of GDP) in July 2025, reflecting what the minister described as “significant progress” in restoring fiscal stability.
Highlighting upcoming projects, he cited the Accra–Kumasi motorway, noting that feasibility studies are underway and the project is expected to be completed within two and a half years once funding is secured.
BADEA President Almusaibeeh praised Ghana’s focus on sustainability and pledged the bank’s support for large-scale projects that drive economic transformation.
Dr. Forson reaffirmed that every cedi of future borrowing “must translate into lasting value for the economy and citizens,” a stance he said will safeguard Ghana’s hard-won debt sustainability and promote inclusive growth.
