News:
May 29, 2026
Parliament – Ghana’s Finance Minister, Dr. Ato Baah Forson, has announced that President John Dramani Mahama’s administration will introduce a new economic programme as part of the 2027 budget.
Speaking in Parliament, Dr. Forson said the new programme is designed to build on what he described as a hard-won foundation of stability.
He noted that President Mahama is deeply grateful to Ghanaians for their sacrifices, patience, and steadfastness, especially as Ghana has officially exited the IMF bailout programme.
“The administration’s solemn pledge is that it will not be complacent,” Dr. Forson said. “We will continue the hard work of building the Ghana that Ghanaians want.”
From crisis to confidence
According to the Finance Minister, this moment marks Ghana’s transition:
i. From crisis management to stability
ii. From dependence on financial bailouts to partnership in reform
ii. From uncertainty to renewed confidence in our economic future
A sharp critique of the past administration
Dr. Forson did not hold back in his assessment of Ghana’s recent economic history.
“On July 1, 2022, the previous administration turned to the IMF for a financial bailout after their gross mismanagement of the economy had driven the country into fiscal, balance of payments, and debt crises,” he told Parliament.
He added that by October 2022, Ghana had lost access to the international capital market, with Eurobond spreads widening to an all-time high of 3,400 basis points. The crisis deepened to the point that COCOBOD was unable to secure a syndicated loan for the first time in many years.
A lesson for the future
“Mr. Speaker, upon coming into office, President Mahama’s administration moved with clarity and purpose to reset the Ghanaian economy and bring the IMF-supported programme back on track,” Dr. Forson said.
He stressed that this experience must serve as a lesson to ensure Ghana never again relives the hardship of 2022.
Prudence, not paralysis
Addressing concerns about fiscal discipline, the Minister clarified: “Prudence does not mean we are failing to spend. We can only spend what we have. Prudence is the difficult road to wealth creation.”
Kwaku Sakyi-Danso / Ghanamps.com