Finance Minister Dr. Cassiel Ato Forson has reaffirmed that Ghana’s future borrowing will focus exclusively on projects that provide long-term economic and social benefits, signaling a clear break from financing recurrent expenditures.
During a courtesy visit from the President of the Arab Bank for Economic Development in Africa (BADEA), H.E. Abdullah Kh Almusaibeeh, Dr. Forson emphasized that borrowing will target transformative initiatives that boost productivity, competitiveness, and investor confidence.
“I will not borrow for consumption but for transformative projects,” he stated.
He revealed that feasibility studies are underway for the construction of a new Accra–Kumasi motorway, describing it as a flagship infrastructure project expected to be completed in two and a half years.
This project is part of a broader strategy to channel external financing into ventures with lasting developmental impact.
H.E. Almusaibeeh welcomed Ghana’s approach, pledging BADEA’s support for initiatives that promote sustainable development across Africa.
Ghana’s public debt stock increased by GH¢15.8 billion in July 2025, reaching GH¢628.8 billion ($59.9 billion), equivalent to 44.9% of GDP, following three months of declines driven by the cedi’s earlier appreciation.
Despite this rise, Dr. Forson stressed that the government’s borrowing strategy remains anchored on debt sustainability and impactful investments.
He highlighted that Ghana’s total public debt fell from GHC 763.8 billion (64.9% of GDP) in July 2024 to GHC 628.8 billion (44.9% of GDP) in July 2025, reflecting significant progress in restoring fiscal discipline.
Pointing to infrastructure priorities, the Minister said the Accra–Kumasi motorway will not only enhance connectivity but also serve as a transformative project underpinning Ghana’s long-term growth agenda.
H.E. Almusaibeeh commended Ghana’s focus on sustainability, reiterating BADEA’s readiness to back major infrastructure and development projects aligned with the country’s economic vision.
