Dr Cassiel Ato Forson, the Finance Minister, has said that three years ago Ghana could not borrow, but today the country has regained investor confidence.
He disclosed that after years of losing access to international capital markets, Ghana has regained investor confidence.
According to Ato Forson, although the market is calling, Ghana is not in a hurry to return to external borrowing.
Ato Forson attributed the renewed investor interest to fiscal consolidation measures and broader economic reforms implemented by the government.
He disclosed that Ghana’s economic credibility has improved significantly compared to the period when the country was effectively locked out of international capital markets.
Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 24, Dr Forson said, “Mr Speaker, three years ago Ghana could not borrow from the international market at any price, but today the market is calling us, but we are not in a hurry”.
Ato Forson added that although investor appetite for Ghana has returned, the government will prioritise debt sustainability and economic stability.
The Finance Minister stressed that any future borrowing from international markets would be based on careful assessment of the country’s financial position and long-term interests.
It will be recalled that the Finance Minister has stated that Ghana’s problem has always been borrowing.
According to Ato Forson, the country sometimes borrows just for consumption.
Ato Forson revealed he has no intention to rush back to the international capital market for loans.
He emphasised that Ghana must break the cycle of reckless borrowing, adding that borrowing must be deliberate and growth-focused.
Speaking on Joy News’ PM Express after presenting the 2026 Budget, Dr Ato Forson stated, “It has been Ghana’s problem, borrowing, borrowing, sometimes borrowing for consumption”.
He stressed. “I’m not one of those people. I’m not in a hurry to go to the capital market to borrow, no way. If I’m to take money, obviously there’s a budget, there’s a deficit to a stent, and you have to finance the deficit. I will take it domestically,” he said.
“We should be able to borrow and set up a domestic infrastructure board in cedi, so that you, if you have money and you want to support infrastructure, you should be able to support the government,” he said.
He added, “The appetite is not going into the capital market just to borrow. Like in the past, we saw it 3 billion every year.”
“You want to borrow smart, what does that mean? Borrow for things that you think the multiplier is better,” he said. “Let me put it simpler, not to borrow for shopping, okay, borrow for growth.”
Also, Dr Ato Forson, during the 2026 Budget reading, has told Ghana’s international partners and investors that Ghana is “back, strong, credible, and open for business.”
He stated, “To our international partners and investors, Ghana is back, strong, credible, and open for business. The story of Ghana is no longer one of crisis but of recovery and renewal”.
“The reforms we have undertaken are not quick fixes; they are the foundations of a resilient, competitive, and inclusive economy.”
“Ghana was indeed at the bottom of the abyss, a nation in distress with its economy bleeding and its people weary, yet yearning for leadership with the courage and vision to rebuild,” Dr Forson stated.
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