Ghana’s Ministry of Finance reported on the country’s recent macro-fiscal improvements at the IMF and World Bank Spring Meetings, with Finance Minister Dr. Cassiel Ato Forson presenting Ghana’s “turnaround experience” at the 13th African Fiscal Forum High-Level Roundtable on macro-fiscal developments and the outlook in Sub-Saharan Africa. The remarks linked Ghana’s recovery from the 2022/2023 crisis to policy measures and reforms implemented since 2025. The update cited real GDP growth of 6% in 2025 (from 5.8% in 2024) and a sharp decline in inflation to 5.8% in 2025 (from 23.8% in 2024), falling further to 3.2% as of March 2026. It also highlighted currency stabilisation, with the cedi appreciating by more than 40% against the US dollar in 2025, and gains continuing into 2026. On fiscal outcomes, the primary balance on a commitment basis, described as Ghana’s fiscal anchor, improved from a deficit of 2.9% of GDP to a surplus of 2.6% of GDP in 2025, while the public debt-to-GDP ratio fell from 61.8% to 45.3% at end-2025, ahead of an initial 2034 target; international reserves were reported at 5.8 months of import cover alongside the adoption of clear fiscal rules and stronger institutions.
Ministry of Finance (Ghana) 2026-04-15
Ghana’s Ministry of Finance showcases economic turnaround at IMF and World Bank Spring Meetings with inflation at 3.2% and debt-to-GDP at 45.3%
The Ministry of Finance (Ghana) used the IMF and World Bank Spring Meetings to present Ghana’s post-crisis “turnaround experience”, attributing macro-fiscal improvements since 2025 to policy measures and reforms. It reported real GDP growth of 6% in 2025, disinflation to 3.2% by March 2026, cedi appreciation of more than 40% against the USD in 2025, a shift in the primary balance from a 2.9% of GDP deficit to a 2.6% surplus, a decline in public debt-to-GDP from 61.8% to 45.3%, and international reserves of 5.8 months of import cover.