The Minister-designate for Finance, Dr. Cassiel Ato Forson, has stated that his administration has a clear plan to restore Ghana’s access to the bond market.

Speaking before the Appointments Committee on January 13, 2025, Dr. Forson emphasised the importance of demonstrating fiscal responsibility and signaling to the investor community that Ghana is committed to doing things differently.

“We need to immediately improve our credit rating. How? Fiscal discipline will play a key role, along with signaling to investors that we are ready to act differently. I have already indicated that we will implement an expenditure-based, strong, front-loaded fiscal consolidation in the shortest possible time, so we can send a strong signal to the bond market,” he explained.

Dr. Forson further noted that addressing Ghana’s stubborn inflation is critical for regaining access to the domestic bond market.

“For us to return to the domestic bond market, there are a few things we need to address—credit rating and inflation. Inflation today is at 23.8%, the highest in the last three months. We understand why inflation has become so persistent, and we know exactly what to do. We need your help, and we are willing to do whatever it takes,” he added.

Ghana’s current credit rating, categorized as junk status, has effectively blocked the government from borrowing both domestically and internationally.

SSD/MA