Ghana’s economic recovery featured prominently at the IMF/World Bank Spring Meetings in Washington, D.C., as Finance Minister Cassiel Ato Forson presented the country’s turnaround at the 13th African Fiscal Forum High-Level Roundtable.
Addressing the session on macro-fiscal developments in Sub-Saharan Africa, he said Ghana’s experience over the past fifteen months shows that African economies can navigate crises and use them to drive structural reform.
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He noted that following severe economic challenges in 2022/2023, policy measures and sustained reforms since 2025 have restored macroeconomic stability and strengthened economic fundamentals.
The Minister cited key indicators, including real GDP growth rising to 6% in 2025 from 5.8% in 2024, while inflation declined from 23.8% in 2024 to 5.8% in 2025, and further to 3.2% as of March 2026.
He also reported that the cedi appreciated by more than 40% against the US dollar in 2025, with gains continuing into 2026.
On fiscal performance, he said Ghana’s primary balance improved from a deficit of 2.9% of GDP to a surplus of 2.6% in 2025, while the debt-to-GDP ratio declined from 61.8% to 45.3% by the end of 2025, ahead of the 2034 target.
He added that international reserves have increased to cover 5.8 months of imports, supported by stronger institutions and clear fiscal rules.
Dr Forson said the gains reflect disciplined fiscal management and a strategy anchored in credible institutions to ensure sustainability.
The IMF World Bank Spring Meetings continue in Washington, bringing together finance ministers, central bank governors and global economic leaders to assess the economic outlook and policy priorities for sustained growth.
