ATO FORSON PROMISES: EVERY LOAN WILL NOW FUND ONLY LIFE-CHANGING PROJECTS

Finance Minister, Dr. Cassiel Ato Forson, has given Ghanaians the assurance that the government will now borrow money only for projects that will change lives and bring long-term benefits to the country. He explained that Ghana has made good progress in reducing its national debt and is now in a stronger financial position.

According to the Bank of Ghana, the country’s debt dropped from GH₵763.8 billion in July 2024 (which was about 65% of everything Ghana produced that year) to GH₵628.8 billion in July 2025 (about 45% of the economy). This shows Ghana is spending more responsibly and slowly reducing the heavy debt burden.

Dr. Forson made these comments when he met with the President of the Arab Bank for Economic Development in Africa (BADEA), H.E. Abdullah KH ALMUSAIBEEH, in Accra. He explained that from now on, Ghana will only borrow money for projects that can bring lasting development, like better roads, schools, hospitals, and industries, and not for short-term spending.

One of the major projects he mentioned is the planned Accra – Kumasi motorway, which is currently undergoing feasibility studies and is expected to be completed in about two and a half years. This project, when completed, will make travel between the two cities faster, safer, and easier, while boosting trade and business.

For his part, the BADEA President praised Ghana’s new approach to borrowing and promised the Bank’s support for big projects that will have a direct impact on people’s lives.

This step by the Finance Minister deserves commendation, because borrowing for the right reasons can change the fortunes of the nation. However, there is still more room for improvement. Ghanaians are hopeful that the government will continue to put borrowed funds to good use, ensuring that every project brings real benefits to the ordinary citizen. The country looks forward to more life-transforming initiatives that will ease the burden of the people and move Ghana closer to a brighter future.