Ghana is witnessing a significant economic turnaround — Finance Minister

The Minister for Finance, Dr. Cassiel Ato Forson, has noted that Ghana’s economy is beginning to show strong signs of recovery after the severe financial crisis that hit the country between 2022 and 2023.

According to him, the country is gradually turning the corner following efforts to restructure its debt and strengthen economic management systems.

The minister made the remarks in a social media post on Thursday, March 5, after signing a debt restructuring agreement between Ghana and Belgium.

“Today, the story is changing. Ghana is recovering and witnessing a significant economic turnaround, while we also put in place stronger systems to ensure we do not return to that point again,” Dr. Ato Forson stated.

The Minister noted that Ghana defaulted on parts of its external debt during the economic crisis.

This has prompted the government to enter negotiations with international creditors to restore debt sustainability and stabilise the economy.

As part of the process, the government has been concluding agreements with members of the Official Creditor Committee under its external debt restructuring programme.

“This agreement with Belgium represents the eighth agreement Ghana has concluded with Official Creditor Committee (OCC) countries under our external debt restructuring programme,” the minister said.