Accra: Finance Minister Dr. Cassiel Ato Forson announced that Ghana will adopt a disciplined approach to financing development projects to safeguard debt sustainability and avert another debt crisis. He made these remarks during the Fifth Session of the Ghana-China Joint Commission on Economic, Trade and Technical Cooperation. Dr. Forson emphasized that the country will not borrow merely because financing is available.
According to Ghana Web, the Finance Minister highlighted the importance of economic justification for every project. He stated that projects must be transparently procured and capable of supporting economic growth, generating revenue, or reducing costs. Infrastructure projects such as roads, railways, power plants, and industrial enclaves are expected to deliver measurable benefits to the Ghanaian economy.
Dr. Forson elaborated that these infrastructure initiatives must improve productivity, create jobs, increase exports, and enhance Ghana's ability to meet its financial obligations. He reiterated the government's commitment to diversifying financing sources while ensuring debt sustainability.
He concluded by assuring that measures will be taken to avoid a recurrence of the debt conditions experienced in 2022.