25th April 2025 1:38:07 PM
1 min readGhana's economic outlook has seen a notable improvement following a high-level investor meeting in Washington, D.C., led by Finance Minister Dr. Cassiel Ato Forson.
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During the meeting, Dr. Forson detailed the stability of the Ghanaian cedi, which has shown signs of appreciation, and emphasized that the country's international reserves are at a healthy level, covering four months of imports.
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The Finance Minister also highlighted strong domestic revenue performance, with the Ghana Revenue Authority surpassing its first-quarter target by more than 2.4 billion cedis.
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This was attributed to robust performances in key tax areas, including VAT. In addition, the government has maintained fiscal discipline by holding spending on goods and services to 2023 levels, ensuring essential services are delivered while controlling expenditure.
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With improved revenue collection and strict fiscal management, Ghana is on track to achieve a 1.5 percent primary surplus for the year. Furthermore, the Bank of Ghana's ability to meet coupon payments without issue, supported by significant reserves, has further boosted investor confidence in the country’s financial stability.
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Dr. Forson also revealed plans for a comprehensive debt management strategy to be presented in the upcoming Mid-Year Budget Review. This strategy will outline critical measures for sustaining economic growth, managing public debt, and fostering long-term investor trust.
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