Finance Minister Dr. Cassiel Ato Forson says the government will maintain strict fiscal discipline and avoid the kind of reckless spending that contributed to Ghana’s recent economic crisis and debt restructuring.
Speaking on Joy News’ PM Express after presenting the 2026 Mid-Year Budget Review to Parliament, Dr Forson said the government’s spending decisions are aimed at ensuring Ghana successfully completes its International Monetary Fund (IMF) programme.
He explained that the fiscal targets currently being pursued were agreed upon under the previous Akufo-Addo administration when Ghana secured a $3 billion IMF support package.
According to him, although political administrations change, the country’s obligations under international agreements remain binding.
“The IMF does not deal with political parties; it deals with governments and countries,” he said, adding that his responsibility as Finance Minister is to ensure Ghana fulfills the commitments made under the programme.
Dr Forson noted that Ghana has already achieved a primary balance of 0.9% of GDP midway through the year, putting the government on track to meet its 1.5% end-of-year target.
He argued that the country’s adherence to the programme has strengthened confidence among Ghana’s international partners and supports the country’s planned exit from the IMF programme.
Responding to suggestions that the improved fiscal performance is largely due to restrained government spending, the Finance Minister defended the approach, saying loosening expenditure now could reverse the progress made.
He warned that abandoning fiscal discipline could plunge the country back into economic instability and force another painful debt restructuring.
“We’re not going back to haircuts,” Dr Forson stressed, insisting the government remains committed to protecting Ghana’s economic recovery.
Source: Joy News’ PM Express.
