The Finance Minister Dr Cassiel Ato Forson, has given firm assurances that Ghana will not default on its financial obligations.
He emphasised that the government is taking decisive steps to strengthen the economy and build investor confidence.
Speaking at a meeting with key players in the pension sector, Dr Forson underscored the importance of fiscal discipline and long-term financial planning to ensure economic stability.
With Ghana’s next major financial obligations due in 2027 and 2028, the Minister stressed that the government is not waiting until the last minute to secure the necessary buffers.
“It is critical that we do not default. We will not wait until 2027 to build buffers,” he said. “The way out is to build the sinking fund, and that is what this government is prioritising.”
The sinking fund, he explained, will support longer-dated bonds and help ensure that the country remains financially resilient.
Dr Forson also stressed the importance of reopening the capital markets, calling on pension funds to play their role in revitalising the secondary bond market.
“The purpose of pension funds is to invest in secondary markets. Reopening the market is in our collective interest,” he stated.
Dr Forson emphasised that these measures are designed to stabilise inflation, strengthen the currency, and restore investor confidence.
“If inflation falls, we all benefit. If the currency stabilises, it will support economic growth for everyone,” he added.
The meeting was attended by the Minister for Labour, Jobs, and Employment, Dr Rashid Pelpuo, and Deputy Minister Ampem Nyarko, who both expressed confidence in the government’s approach.
Dr Pelpuo welcomed the efforts to reopen the bond market, stating that it would help stabilise the economy and reassure Ghanaians that things are improving.
Representatives from pension funds also indicated their support for the initiative but raised concerns based on past economic challenges.
In response, Dr Forson firmly reassured stakeholders: “Ghana will not default—ever again, not on my watch.”
The Finance Ministry remains committed to working with all stakeholders to ensure a stable and resilient economy for the future.
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