Ghana’s Ministry of Finance reported that Finance Minister Dr. Cassiel Ato Forson, on the margins of the International Monetary Fund (IMF) and World Bank Spring Meetings, met with the Ghana Heritage Club at the World Bank headquarters in Washington, DC, to engage Ghanaian professionals working in the two institutions and to outline priorities for Ghana’s use of external financing. The Heritage Club said around 350 Ghanaian staff are based at the IMF and World Bank in Washington, with more than 700 globally. Forson highlighted the World Bank’s Development Policy Operation (DPO) facility being increased to over USD 400 million and argued that the key issue is how borrowed funds are used, pointing to a shift toward financing impactful investments rather than non-productive spending such as capacity building or consultancy contracts. Bank of Ghana Governor Dr. Johnson Asiama said the central bank is working on a new legal framework aligned with modern economic realities, supported by the Bretton Woods institutions, and indicated that the Bank of Ghana does not expect to declare a loss this year.
Ministry of Finance (Ghana) 2025-04-26
Ghana’s Ministry of Finance engages Ghana Heritage Club in Washington and highlights USD 400 million plus World Bank DPO increase and Bank of Ghana legal reform work
Ghana’s Finance Minister Dr. Cassiel Ato Forson, at the IMF and World Bank Spring Meetings, emphasized using external financing for impactful investments over non-productive spending. The World Bank’s Development Policy Operation facility for Ghana will increase to over USD 400 million. Bank of Ghana Governor Dr. Johnson Asiama announced a new legal framework supported by Bretton Woods institutions and projected no losses for the central bank this year.