2026 Mid-Year Budget: Capital Market Calling But We Aren’t Eager To Return – Ato Forson

Finance Minister Dr Cassiel Ato Forson says government will not rush to borrow from the international capital market despite renewed investor interest, as Ghana’s debt-to-GDP ratio falls to 45%.

Presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, Dr Forson said the country’s return to market confidence is proof that the economic turnaround is real.

“Three years ago, Ghana could not borrow on the international capital market at any price. Today, the market is inviting us back, but I want to assure you we are not in a hurry,” he stated.

The Minister said the debt crisis that defined 2022 has been reversed through fiscal discipline and restructuring.

“Three years ago, unsustainable debt defined our crisis. Today, our debt-to-GDP rate has fallen to 45% and is still declining ahead of every target,” Dr Forson told lawmakers.

He, however, cautioned that sustaining the gains will require constant oversight.

“The work is not finished, and the PFM debt room requires continuous vigilance, but the direction is right, the momentum is real, and the foundation is solid,” he noted.

Dr Forson said government will prioritise concessional financing and domestic revenue mobilisation over commercial borrowing to keep the debt trajectory on a downward path.

He added that the improved debt position is creating fiscal space to protect the vulnerable, support job creation, and fund critical infrastructure without undermining macroeconomic stability.

“Fiscal discipline has been restored, macro stability has returned, and confidence has been rebuilt,” the Finance Minister concluded.

Click to read more: https://opemsuo.com/author/hajara-fuseini/