Finance Minister Dr. Cassiel Ato Forson has attributed Ghana’s improving economic performance to what he described as disciplined economic management, bold policy reforms and decisive leadership.
He rejected suggestions that the country’s recovery is solely the result of the International Monetary Fund (IMF) programme or debt restructuring.
Presenting the 2026 Mid-Year Budget Review in Parliament on Wednesday, Dr. Forson said the Mahama administration took difficult but necessary decisions after assuming office in January 2025 to restore macroeconomic stability and rebuild confidence in the economy.
According to him, the previous model of managing the economy had failed, making structural reforms unavoidable.
“The old model of managing the economy had failed, and Ghana did not need incremental adjustments; it needed structural reforms. We therefore took difficult but necessary decisions which were neither politically convenient nor painless. They were necessary to restore stability and rebuild confidence,” he told Parliament.
The Finance Minister argued that the country’s recent economic gains were the result of deliberate policy choices rather than external interventions alone.
“The progress Ghana is recording today did not happen by chance. Some have suggested that our recent macroeconomic gains were simply the product of good fortune, while others have attributed the recovery solely to the domestic debt restructuring programme or the IMF programme inherited in 2025. But I firmly disagree. Ghana’s recovery is as a result of superior economic management,” he said.
Dr. Forson explained that while debt restructuring and the IMF programme created opportunities for recovery, they could not replace prudent fiscal management and effective policy implementation.
“Debt restructuring may create fiscal space, but it does not create fiscal discipline. An IMF programme may provide the framework, but it cannot substitute for sound policy implementation, disciplined execution and political will,” he stated.
He maintained that sustainable economic recovery is driven by sound governance and leadership.
“Sustainable economic recovery is built on good policy choices, competent economic management and disciplined execution, and most importantly, courageous leadership,” the Finance Minister said.
Dr. Forson further noted that the government’s economic reform programme has strengthened public financial management, restored fiscal credibility, improved domestic revenue mobilisation, reduced fiscal risks and reinforced macroeconomic stability.
“The results speak for themselves. Every major macroeconomic indicator has improved significantly,” he told Parliament.
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