- No arrears were passed on to the Mahama-led administration
- First-half fiscal deficit was mostly financed locally, below target levels
- Ghana has borrowed less than projected—cited as proof of fiscal prudence
Finance Minister Dr. Cassiel Ato Forson has disclosed that the GH₵4.5 billion disbursed by the International Monetary Fund (IMF) was fully spent between January 1 and January 6—just days before the incoming Mahama-led administration took office.
Delivering the 2025 Mid-Year Budget Review, Dr. Forson explained that the outgoing government used the funds to cover key expenditures, ensuring that no unpaid bills were left for the new administration.
“It’s worth noting that no arrears accumulated during the review period, which reflects strong commitment controls and fiscal discipline,” he stated.
He also reported that Ghana’s fiscal deficit for the first half of the year was largely financed domestically, with net domestic financing at GH₵13.1 billion—well below the projected GH₵18.7 billion.
In contrast, net foreign financing totaled GH₵2.8 billion, largely sourced from the IMF’s earlier disbursement.
Despite the challenges and early-year expenditure, Dr. Forson reaffirmed that Ghana is progressing steadily with the IMF-supported programme.
He highlighted that the country has borrowed less than originally planned—evidence, he said, of sound fiscal governance and responsible spending.
The Finance Minister emphasized the sharp contrast between the current administration and the previous NPP government, particularly in terms of fiscal discipline and economic management.
He concluded by assuring the public that efforts to stabilize the economy are ongoing and underscored the government’s commitment to maintaining transparency in public finances.
