Ghana’s Ministry of Finance has organised its first investor town hall meeting since 2021, bringing together investors, bankers, and bond market specialists as the government intensifies efforts to restore confidence in the country’s economy and debt markets.
Delivering his opening remarks, Chief Director Patrick Nomo described the forum as a significant milestone and expressed confidence that Ghana would avoid returning to a debt default situation. He reiterated the Ministry’s dedication to transparency, credible policymaking, and continuous engagement with investors.
Finance Minister Cassiel Ato Forson assured participants that the economy is steadily recovering, supported by stronger macroeconomic indicators and prudent fiscal discipline.
He highlighted progress made since the Domestic Debt Exchange Programme (DDEP), noting multiple successful International Monetary Fund programme reviews with disbursements exceeding $700 million, an upgrade in the country’s sovereign credit rating to B- with a stable outlook, and the timely servicing of both domestic and external debts, including over $1.4 billion in Eurobond payments in 2025.
According to the Minister, inflation has dropped significantly to 3.3%, reaching its lowest level in years, while economic growth has picked up strongly, driven by consistent expansion in the real sector. He added that fiscal consolidation efforts are back on course, with a primary surplus achieved without cutting essential social and infrastructure spending.
Presenting the 2026 macroeconomic outlook, Dr. Forson described the targets as realistic and attainable. He emphasised that government revenue is increasingly driven by domestic mobilisation, with non-oil tax revenue contributing more than 80% of total inflows.
On debt management, he outlined strategies aimed at reducing refinancing risks, especially concerning maturities in 2027 and 2028. These include strengthening the Sinking Fund, allocating portions of non-oil tax revenue, and restructuring debt to smooth repayment timelines and lower borrowing costs.
He also pointed to ongoing reforms to enhance transparency, such as the regular release of issuance calendars, improved communication with market players, and steps to reinforce cash reserves while supporting stable domestic bond market operations following the end of DDEP-related restrictions.
The session concluded with an interactive discussion, where participants engaged the Minister and his team on fiscal policy direction, debt sustainability, and market prospects.
Many stakeholders expressed renewed confidence in the management of Ghana’s economy and welcomed the government’s emphasis on transparency, discipline, and ongoing dialogue.