Dr Cassiel Ato Forson, the Finance Minister, has announced some twenty-four projects listed as a priority under the John Mahama government.
According to Ato Forson, the twenty-four projects have been submitted to the IMF and OCC.
Speaking during the presentation of the 2025 Mid-Year Budget Review in Parliament on Thursday, July 24, 2025, Dr Ato Forson stated, “Ghana’s default on its external debt service obligation on 19th December 2022, and creditors halted disbursements of 55 bilateral projects.
This resulted in several uncompleted projects scattered across the country and leaving a massive amount of $3 billion in undisbursed loans”.
He added, “The IMF and Official Creditor Committee annual disbursement ceiling of $250 million for official bilateral loans implies that it will take a minimum of 12 years to fully draw down on the undisbursed loans. Under the MoU with the official creditor committee, the Government of Ghana was required to submit a priority list to accommodate $250 million annual disbursement ceiling”.
Dr Cassiel Ato Forson further announced that in just six months, the John Mahama-led government have added $2.14 billion to Ghana’s gross international reserves.
Ato Forson revealed that the $2.14 billion added to the gross international reserves has been done without external borrowing.
According to Ato Forson, the development is a major economic milestone led by fiscal management and domestic efforts.
Dr Ato Forson added, “In just six months, even before the IMF disbursement and without external borrowing, we have added $2.14 billion to the country’s gross international reserves”.
Dr. Forson announced that Ghana’s gross international reserves stood at” $11.12 billion by the end of June 2025, covering 4.8 months of imports. This marks a significant increase from the $8.98 billion recorded in December 2024, which covered four months of imports”.
“This is not just a number. It is a signal that confidence is returning to our economy and that the steps we are taking are working,” he emphasised.
See the list below:
