World Bank commends Ghana on improved economy

Ghana has received commendation from the World Bank for improving its economy, with the institution pledging continued support to help create jobs, Finance Minister Dr. Cassiel Ato Forson has said.

Dr. Forson shared the update on his official Facebook page, highlighting a productive meeting with the Managing Director and Chief Knowledge Officer of the World Bank, Mr. Paschal Donohoe, where they discussed the next phase of Ghana’s development agenda.

“A while ago, I had a productive discussion with the Managing Director and Chief Knowledge Officer of the World Bank, Mr. Paschal Donohoe, on Ghana’s economic transformation and the next phase of our development agenda,” Dr. Forson wrote.

He noted that Ghana focused last year on resetting the economy and placing it firmly on a sustainable growth path, but said unemployment, particularly among youth, remains a major challenge.

“Last year was focused on resetting the economy and placing it firmly on the path to sustainability. Today, one of our major challenges is unemployment, particularly among our youth,” he said.

Dr. Forson emphasized that Africa’s rapidly growing youthful population cannot rely solely on public sector employment, underlining the need for policies and programmes that generate sustainable jobs.

“Africa has a rapidly growing youthful population, and it is clear that public sector employment alone cannot provide the opportunities our young people need. We are therefore putting in place major policies and programmes to sustainably create jobs,” he added.

According to Dr. Forson, Mr. Donohoe congratulated Ghana on the remarkable improvement in national finances and assured the World Bank’s commitment to support the country, including through a Jobs and Growth Analysis to identify new opportunities for employment.

“Mr. Donohoe congratulated us on the remarkable improvement in our national finances. He indicated that the World Bank stands ready to continue supporting Ghana, including through a Jobs and Growth Analysis that will help identify new opportunities for job creation,” Dr. Forson said.

The Finance Minister welcomed the partnership, stressing that it will help expand opportunities, create jobs, and secure a more prosperous future for Ghanaians.

“I welcome the World Bank’s continued partnership as we work to create jobs, expand opportunities, and secure a more prosperous future for our people,” he concluded.

The discussions underscore Ghana’s efforts to strengthen its economy while tackling youth unemployment and leveraging international partnerships to drive sustainable growth.