IMF bailout: Ato Forson vows Ghana’s 17th programme will be last

By: Eugene Dogbatse Atsu

Finance Minister Dr Cassiel Ato Forson says the government is committed to ensuring that Ghana never returns to the International Monetary Fund (IMF) for another bailout.

Speaking on the country’s economic recovery efforts, Dr Forson said Ghana’s repeated dependence on IMF support over the years highlights the need for stronger fiscal discipline and sustainable economic management.

He stressed that government is implementing reforms aimed at preventing a return to the economic difficulties that forced the country to seek external assistance.

According to him, the current IMF programme should mark the end of a cycle that has seen Ghana seek support from the Fund on 17 different occasions.

“We are determined that the 17th shall be the last,” Dr Forson stated, adding that government is focused on restoring discipline, rebuilding resilience and creating a stronger economy capable of withstanding future shocks.

He noted that recent improvements in key economic indicators demonstrate that the country is making progress. He said government’s economic policies are designed to maintain stability, strengthen investor confidence and support long-term growth.

He further indicated that Ghana’s relationship with the IMF is evolving from one centred on financial assistance to one focused on policy guidance and reforms. Under this arrangement, the country will continue to benefit from technical support and policy assessments without seeking additional bailout funds.

Dr Forson expressed confidence that ongoing reforms, coupled with prudent management of public finances, will help safeguard the economy against future crises and reduce the need for emergency financial interventions.

He also called for collective responsibility in protecting the gains made so far, stressing that fiscal discipline must remain a national priority regardless of which political party is in government.