Finance Minister Dr. Cassiel Ato Forson has announced a more disciplined approach to borrowing, saying Ghana will not take on loans simply because financing is available.
Speaking at the Fifth Session of the Ghana–China Joint Commission on Economic, Trade and Technical Cooperation, Dr. Forson said the government would prioritise debt sustainability and avoid a repeat of the conditions that led to the country’s 2022 debt crisis.
He said all projects financed through such cooperation must be economically justified, transparently procured and capable of delivering measurable benefits, including boosting productivity, creating jobs, increasing exports and reducing costs.
The Finance Minister cited infrastructure such as roads, railways, power plants and industrial enclaves, stressing that projects must also strengthen Ghana’s capacity to repay its obligations.
He added that government would diversify its financing sources while maintaining fiscal discipline and protecting the country’s long-term economic stability.