Dr. Cassiel Ato Forson (Middle) meets investors in USA
The Minister of Finance, Dr Cassiel Ato Forson, has assured global investors that the government is actively working to improve the country’s current economic situation and enhance macroeconomic stability.
According to him, the cedi has been relatively stable and has recently gained momentum against major trading currencies.
Dr Forson stated that he engaged with investors, shared updates on Ghana’s economic progress, and reaffirmed the government’s commitment to fiscal discipline and macroeconomic stability.
“I assured them that the cedi has remained relatively stable and has begun appreciating since last week. Our reserve position is strong, currently covering over four months of import needs.
“These developments come ahead of the full operationalisation of the Ghana Goldbod, which is expected to enhance the cedi’s stability and support the accumulation of foreign exchange reserves. This progress is a testament to prudent economic management and our resilience,” he noted.
Dr Forson also highlighted that the Ghana Revenue Authority recorded strong gains in the first quarter of this year.
“Tax revenues exceeded targets by over 2.4 billion cedis. We are on track to achieve a 1.5% primary surplus this year. This reflects not only strong revenue performance but also disciplined spending. For example, allocations for goods and services have largely been maintained at 2023 levels.
“In short, we are exactly where we need to be. All indicators are trending in the right direction, but we are not complacent. We remain vigilant and committed to sustaining this momentum,” he said.
He further noted that the Bank of Ghana holds significant external reserves to meet coupon and interest payments as they fall due, ensuring continued confidence in the markets.
The Minister added that the government will outline the country’s debt management strategy in the upcoming mid-year budget review, aimed at supporting growth, sustainability, and investor confidence.
SSD/MA
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