Finance Minister, Cassiel Ato Forson, is set to lead Ghana’s delegation to the 2025 IMF and World Bank Spring Meetings scheduled for April 21, 2025, in Washington, DC.
He will be involved in high-level engagements on matters concerning the global economy, job creation, energy access, and food security. He will also hold discussions with development partners and international financial institutions, with a key focus on meeting the Managing Director of the IMF, Kristalina Georgieva.
He is further expected to meet representatives from financial institutions such as the Paris Club, credit rating agencies, the U.S. Treasury, and other key stakeholders.
In a post on X, the Finance Minister stated that the duty of the delegation is to “tell Ghana’s reset story — a story of hard choices, bold reforms, and a firm commitment to rebuilding our economy in a way that is fair, sustainable, and inclusive.”
He also celebrated the government’s success in securing a staff-level agreement with the IMF on the fourth review, which could trigger the release of $370 million in support to help revamp the economy.He credited this milestone to the relentless and bold steps taken by the Mahama administration, describing it as “a testament to the tireless work the new administration has put in over the last few months to reverse the fiscal slippage it inherited.”
Dr. Forson went on to outline several measures implemented to address the debt burden facing many state institutions.
These include the appointment of the Auditor-General, amendments to the Public Procurement Act, and proposed changes to the Public Financial Management Act, all aimed at reducing Ghana’s debt-to-GDP ratio to 45% by 2035 and achieving a primary surplus of at least 1.5% of GDP annually. Additionally, the Ministry of Finance has operationalised a Compliance Desk to monitor the adherence of Ministries, Departments, and Agencies (MDAs) to the PFMA.
He also hinted at other structural reforms, such as the publication of a Financial Management Commitment Control Compliance League Table to rank MDAs based on their observance of fiscal controls, and the planned legislation to establish an independent financial council to oversee adherence to fiscal rules.
The Spring Meetings are expected to bring together governors of central banks, finance ministers, private sector executives, civil society representatives, and academics to discuss the global state of the economy and other critical issues related to financial stability. These meetings between the IMF and World Bank take place annually every April in Washington, DC, and provide a platform for governors and country officials to hold bilateral meetings with the staff and management of the two institutions.