Finance Minister Engages World Bank on Fiscal Discipline and Education Reforms

Ghana’s Minister of Finance, Dr. Ato Forson, has reaffirmed the government’s commitment to fiscal discipline and sustainable economic management during a high-level engagement with World Bank Division Director Robert Taliercio O’Brien and his team.

The discussions focused on the World Bank’s continued support for Ghana’s education sector reforms, with Dr. Forson welcoming the additional resources allocated to the country. He emphasized that these funds would be directed toward impactful projects that drive national development and improve the lives of Ghanaians.

Acknowledging the economic challenges of the past year, Dr. Forson reiterated the government’s resolve to maintain fiscal prudence, particularly within the framework of Ghana’s International Monetary Fund (IMF)-supported programme. Despite struggling to achieve a 0.5% primary surplus in the previous year, he assured investors and development partners that Ghana remains firmly on a disciplined and sustainable financial trajectory.

As part of cost-cutting measures, the Finance Minister announced decisive actions to curb unnecessary government expenditures. He stated that non-essential conference travel would no longer be funded, and delegation sizes would be significantly reduced to ensure efficiency without compromising productivity. Additionally, he revealed substantial budget cuts, including within the Office of the President, to prioritize spending on critical growth-driving initiatives.

“These measures reflect our unwavering commitment to prudent resource management. Every cedi must be spent where it matters most—on projects that generate growth and improve the well-being of our citizens,” Dr. Forson said.