Finance Minister Dr. Cassiel Ato Forson has announced that Ghana has achieved a moderate risk of debt distress for the first time since 2013, representing a major turnaround from its previous unsustainable debt levels.
Dr. Forson made the disclosure in Parliament on Tuesday, May 26, while presenting four major statutory reports to the House. He attributed the milestone to the government’s focus on transparency, accountability, and prudent economic management.
“Mr. Speaker, I’m proud to inform the House that Ghana, for the first time since 2013, has achieved a moderate risk of debt distress, moving from unsustainable debt to high risk of debt distress and now to a moderate risk of debt distress,” Dr. Forson stated.
The Finance Minister laid several documents before Parliament, including reports detailing the administration and utilization of energy sector levy proceeds, petroleum receipts and transfers, and the implementation of public-private partnership initiatives across different sectors.
Additionally, Dr. Forson presented the reconciliation report on the Petroleum Holding Fund for the 2025 fiscal year, fulfilling the requirements of the Petroleum Revenue Management Act. He explained that this report outlines the petroleum revenues generated by the state and how those resources were deployed, with a specific focus on managing energy sector debt.
“Mr. Speaker this report details how the monies received and accrued to the state on the back of all the petroleum taxes were utilized, particularly the one relating to the management of the energy sector debt recovery,” he said.
He noted that more granular data from the reports will be shared with the appropriate parliamentary committee during upcoming deliberations.
“And so Mr. Speaker, the details are in the report and has accordingly been presented to the Committee for deliberation and when the Committee invites us, we will go and present the details,” Dr. Forson added.