Finance Minister, Cassiel Ato Forson, is at the forefront of the nation's delegation attending the 2025 International Monetary Fund (IMF) and World Bank Spring Meetings in Washington, D.C.

This marks the first time the new administration under President John Dramani Mahama of the National Democratic Congress (NDC) is taking part in these meetings.

The engagements follow shortly after Ghana reached a staff-level agreement with the International Monetary Fund (IMF) concerning the fourth review of the ongoing support programme.

The outcome of this agreement is expected to unlock around $370 million to help advance the country’s economic recovery efforts.

What stands out about this development is that the agreement was secured despite earlier shortfalls in meeting several structural and fiscal targets before the current government assumed office. This outcome is seen as a reflection of growing international trust in Ghana’s current leadership, largely due to the quick and focused interventions introduced by the new administration.

Since coming into office, the Mahama government has made a concerted effort to tackle the country’s fiscal imbalances. In many areas, reforms have been accelerated, and additional strategies have been adopted to reestablish macroeconomic discipline and restore financial credibility.

One of the most pressing concerns has been the sharp rise in unpaid obligations in 2024, which resulted in a primary deficit that far surpassed the originally projected surplus. To address this, the government rolled out a wide-ranging reform agenda aimed at reducing arrears, tightening expenditure controls, and improving oversight of public finances.

Part of this agenda involves reviewing all outstanding commitments to confirm their authenticity and determine necessary actions. Legislative changes have also been introduced, requiring approval from the Finance Minister before any central government procurement goes ahead. Additionally, a revised financial framework now includes a legally binding target to bring public debt down to 45% of GDP by 2035, along with a rule mandating an annual primary surplus of at least 1.5% of GDP. An independent council is expected to oversee fiscal policy moving forward.

Monitoring mechanisms have also been put in place to ensure compliance with these rules, including systems within the Finance Ministry to track how government departments and agencies manage their finances.

To reinforce accountability, a ranking system has been introduced to publicly assess institutions based on their adherence to financial regulations.

Beyond these changes, the administration has completed several key reforms ahead of their original deadlines, signaling a proactive approach to economic restructuring and a strong commitment to turning the economy around.

While in Washington, Dr. Forson and the Ghanaian delegation will be engaged in various high-level discussions with international partners. The agenda includes talks centered on employment, energy, food systems, and climate action.

One of the key events will be a meeting between Dr. Forson and IMF Managing Director Kristalina Georgieva to review Ghana’s progress and future plans.

Discussions will also extend to members of the Paris Club, credit rating agencies, the U.S. Treasury, and other allies, as Ghana seeks to deepen its partnerships and reassure investors.

At the core of Dr. Forson’s message during these meetings is what he describes as “Ghana’s reset story”—a vision focused on stabilizing the economy, managing debt responsibly, and paving the way for more inclusive and sustainable growth. This new direction prioritizes social protection, ambitious reform, and a long-term plan to achieve what he calls “The Ghana We Want.”