Finance Minister Dr Cassiel Ato Forson has stated that Ghana will take a more disciplined approach to financing development projects as the country works to protect debt sustainability and prevent another debt crisis.
He made the comments during the Fifth Session of the Ghana–China Joint Commission on Economic, Trade and Technical Cooperation.
“Ghana will now proceed with discipline. We will not borrow simply because financing is available,” Dr Forson said.
He stressed that every project must be economically justified, transparently procured and capable of supporting growth, generating revenue or reducing costs.
According to the Finance Minister, infrastructure projects, including roads, railways, power plants and industrial enclaves, must deliver measurable benefits to the Ghanaian economy.
“Any road, railway, power plant, industrial enclave or other infrastructure financed through this cooperation must improve productivity, create jobs, increase exports and strengthen Ghana’s ability to repay its obligations,” he said.
Dr Forson added that Government would diversify its financing sources while protecting debt sustainability.
“We will diversify our financing sources, protect debt sustainability and avoid a return to the conditions that led to the 2022 debt crisis,” he stated.
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