Friday, April 17

Tag: Ato Forson

Ministry of Finance Launches PFM Compliance League Table to Boost Accountability
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Ministry of Finance Launches PFM Compliance League Table to Boost Accountability

The Ministry of Finance has introduced a Public Financial Management (PFM) Compliance League Table as part of efforts to strengthen transparency, fiscal discipline, and accountability in the management of public resources. The initiative, described as a landmark step, fulfills the government’s commitment outlined in the 2025 Budget Statement to publish an objective and evidence-based assessment of how public institutions comply with the Public Financial Management Act, 2016 (Act 921), its regulations, and related laws. According to the Ministry, the League Table serves as a performance benchmarking tool that measures how well public institutions adhere to established rules and procedures governing the use of public funds. By ranking institutions based on their compliance levels, t...
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World Bank MD Praises Ghana’s Finance Minister on Economic Progress During First Africa Visit
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World Bank MD Praises Ghana’s Finance Minister on Economic Progress During First Africa Visit

The Managing Director and Chief Knowledge Officer of the World Bank, Paschal Donohoe, has commended Cassiel Ato Forson for what he described as significant improvements in Ghana’so national finances. The praise came during a high-level meeting between the two officials, held as part of Mr. Donohoe’s first official visit to Africa. The discussions focused on Ghana’s ongoing economic transformation and the next phase of its development agenda. Dr. Forson explained that over the past year, the government has concentrated on resetting the economy and steering it toward a more sustainable path. He noted that while considerable strides have been made in stabilising the economy, unemployment—especially among the youth—remains a major concern. According to the Finance Minister, Ghana’s gr...
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Finance Minister Bans Land Transit of Selected Goods to Protect Government Revenue
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Finance Minister Bans Land Transit of Selected Goods to Protect Government Revenue

The Minister for Finance, Cassiel Ato Forson, has directed the Ghana Revenue Authority (GRA) to immediately implement new measures aimed at tightening border controls and safeguarding government revenue. The directive was issued following a high-level meeting between the minister, the Acting Commissioner of Customs, Mr. Aaron Akanor, and the management of the Customs Division of the GRA to review recent developments at Ghana’s borders. As part of the measures, the Finance Minister has ordered an immediate ban on the land transit of selected goods, directing that the affected products must be routed exclusively through Ghana’s seaports. Under the new directive, the listed goods will no longer be allowed to enter or transit through the country via land borders. The products affected...
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Government Pays GH¢10 Billion DDEP Interest, Boosts Investor Confidence
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Government Pays GH¢10 Billion DDEP Interest, Boosts Investor Confidence

The Government of Ghana has paid GH¢10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP), signalling continued commitment to fiscal stability and debt restructuring efforts. Announced in Accra on Wednesday, 18 February 2026, the payment represents the sixth coupon settlement under the programme and marks the second full cash payment made without any Payment-In-Kind component. Officials say this reflects improved fiscal strength and growing solvency. The settlement covers coupon obligations on cedi-denominated domestic debt instruments in line with the restructuring memorandum and the government’s broader debt management and fiscal consolidation strategy. Economists note that the timely payment sends a positive signal to both domestic and internation...
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Ghana Announces Cocoa Sector Reforms to Ensure Financial Stability and Fair Farmer Pricing
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Ghana Announces Cocoa Sector Reforms to Ensure Financial Stability and Fair Farmer Pricing

The Ministry of Finance has announced a series of major reforms aimed at strengthening the cocoa sector, ensuring fair producer prices, and securing long-term sustainability for one of Ghana’s most important export industries. The measures were approved by Cabinet under the government of the Republic of Ghana. Immediate Relief for Farmers As part of the reforms, Cabinet has directed the COCOBOD to immediately settle outstanding payments owed to cocoa farmers. The move is intended to provide financial relief to affected farmers while restoring confidence in the cocoa purchasing system. Planned Legislative Changes Government plans to present a new cocoa sector bill to the Parliament of Ghana. The proposed law will introduce an automatic adjustment mechanism for cocoa producer pri...
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Mahama Administration Settles US$1.47bn Energy Debt, Reinstates World Bank Guarantee Within One Year
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Mahama Administration Settles US$1.47bn Energy Debt, Reinstates World Bank Guarantee Within One Year

The Government of Ghana, under the leadership of President John Dramani Mahama, has cleared a significant portion of legacy energy sector debt, paying approximately US$1.47 billion in 2025 to stabilise the sector and restore international confidence. Upon assuming office in January 2025, the Mahama Administration inherited an energy sector under severe strain, marked by years of non-payment for gas supplied from the Offshore Cape Three Points (OCTP) field. The situation had resulted in the complete depletion of a US$500 million World Bank Partial Risk Guarantee (PRG), a facility established in 2015 to backstop payments to Sankofa Gas Project partners ENI and Vitol and unlock nearly US$8 billion in private investment. Government sources say the exhaustion of the PRG had undermined Gha...
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Government of Ghana Settles US$709 Million Eurobond Obligation Ahead of Schedule
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Government of Ghana Settles US$709 Million Eurobond Obligation Ahead of Schedule

The Government of Ghana has successfully settled a US$709 million Eurobond obligation, making the payment on 30 December 2025 ahead of its due date, in a move seen as a major boost to the country’s economic recovery and debt management efforts.According to the Ministry of Finance, the latest payment brings Ghana’s total Eurobond payments for 2025 to US$1.4 billion under the ongoing debt restructuring memorandum. The amount comprises three separate payments of US$349.52 million, US$349.52 million, and US$709 million made to Eurobond holders within the year.The timely settlement, the Ministry noted, reaffirms Ghana’s credibility as a sovereign borrower and demonstrates government’s commitment to restoring investor confidence through transparent, predictable, and disciplined debt-service prac...
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Economic Expert Hails Government Over Positive 2025 Mid-Year Budget Review
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Economic Expert Hails Government Over Positive 2025 Mid-Year Budget Review

Mr. Anthony Dagadu, an Economic Expert in the Volta Region, has commended the government for what he described as a positive and impactful 2025 Mid-Year Budget Review, highlighting its potential to drive economic growth and development. He said the review was an important step in assessing the government’s fiscal performance and making necessary adjustments to strengthen the economy. In an interview with the Ghana News Agency, Mr. Dagadu stated that public sentiment was largely optimistic, with expectations that the review had addressed key economic challenges and provided a clear direction for the second half of the year. “The review clearly outlined strategies to stimulate economic activity and improve public services. It was communicated in a way that was understandable to ordi...
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Energy sector, a “ticking time bomb” – Finance Minister
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Energy sector, a “ticking time bomb” – Finance Minister

Dr Cassiel Ato Forson, the Finance Minister, says Ghana’s energy sector is facing a critical financial crisis, described as a “ticking time bomb,” largely due to non-cost reflective tariffs and unsustainable energy subsidies. He highlighted the sector’s dire financial state, noting that the projected cumulative financial shortfalls were expected to exceed nine billion dollars by 2026, even with government’s interventions. Dr Forson said this on the first leg of the two-day National Economic Dialogue ongoing at the Accra International Conference Centre. “The energy sector in Ghana has become a ticking time bomb. More than two per cent of GDP every year. Every year, the profits of the energy sector will probably fall back on the legal side. For citizens, we require radical measures,...
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Business to see relief as Ato Forson promises VAT reforms
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Business to see relief as Ato Forson promises VAT reforms

The Minister of Finance designate, Dr Cassiel Ato Baah Forson, has promised to carry out significant reforms in the implementation of the Value Added Tax (VAT) . He said this will give huge relief to businesses that are suffocating under the presented chaotic and distorted implementation of the VAT. Dr Ato Forson was speaking during his appearance at the Appointments Committee of Parliament on Monday. He said concerns raised by the business community so far include unpredictable tax policy  and administration such as distorted VAT regime.  “To this end the government will undertake a comprehensive review of Ghana’s VAT regime as casptured in the manifesto of the National Democratic Congress (NDC), Dr Ato Forson said. He said this is intended to ...
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