Ghana’s Ministry of Finance reported on the country’s recent macro-fiscal improvements at the IMF and World Bank Spring Meetings, with Finance Minister Dr. Cassiel Ato Forson presenting Ghana’s “turnaround experience” at the 13th African Fiscal Forum High-Level Roundtable on macro-fiscal developments and the outlook in Sub-Saharan Africa. The remarks linked Ghana’s recovery from the 2022/2023 crisis to policy measures and reforms implemented since 2025. The update cited real GDP growth of 6% in 2025 (from 5.8% in 2024) and a sharp decline in inflation to 5.8% in 2025 (from 23.8% in 2024), falling further to 3.2% as of March 2026. It also highlighted currency stabilisation, with the cedi appreciating by more than 40% against the US dollar in 2025, and gains continuing into 2026. On fiscal outcomes, the primary balance on a commitment basis, described as Ghana’s fiscal anchor, improved from a deficit of 2.9% of GDP to a surplus of 2.6% of GDP in 2025, while the public debt-to-GDP ratio fell from 61.8% to 45.3% at end-2025, ahead of an initial 2034 target; international reserves were reported at 5.8 months of import cover alongside the adoption of clear fiscal rules and stronger institutions.
Ghana’s Ministry of Finance showcases economic turnaround at IMF and World Bank Spring Meetings with inflation at 3.2% and debt-to-GDP at 45.3%
The Ministry of Finance (Ghana) used the IMF and World Bank Spring Meetings to present Ghana’s post-crisis “turnaround experience”, attributing macro-fiscal improvements since 2025 to policy measures and reforms. It reported real GDP growth of 6% in 2025, disinflation to 3.2% by March 2026, cedi appreciation of more than 40% against the USD in 2025, a shift in the primary balance from a 2.9% of GDP deficit to a 2.6% surplus, a decline in public debt-to-GDP from 61.8% to 45.3%, and international reserves of 5.8 months of import cover.