Dr Cassiel Ato Forson is the Minister of Finance
The Minister of Finance, Dr Cassiel Ato Forson, has reaffirmed the government’s commitment to responsible borrowing, stressing that future loans will be directed solely towards projects that deliver long-term economic and social values.
According to him, Ghana has moved past the era of borrowing for recurrent expenditure.
Dr Forson made this known during a meeting with the President of the Arab Bank for Economic Development in Africa (BADEA), Abdullah Kh Almusaibeeh.
Cedi weakens further to sell at GH¢12.25 to $1 on interbank market
“I will not borrow for consumption but for transformative projects,” the minister stated.
He added that strategic investments remain critical to strengthening Ghana’s growth prospects.
One of such projects, he revealed, is the proposed construction of a new Accra–Kumasi Motorway.
He noted that feasibility studies are currently ongoing, with the project expected to be completed within two and a half years.
Dr Forson described it as a flagship national priority that would significantly boost productivity, competitiveness, and investor confidence.
On his part, BADEA President Almusaibeeh welcomed Ghana’s renewed focus on impactful development, assuring that the bank is ready to support projects that drive sustainable growth across Africa.
The announcement comes at a time when Ghana’s public debt stock has risen by GH¢15.8 billion in July 2025, reaching GH¢628.8 billion ($59.9 billion).
This represents 44.9% of Gross Domestic Product (GDP), following three months of declines earlier in 2025 due to the strong appreciation of the Ghana cedi.
SSD/AE
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