The Finance Minister, Dr. Cassiel Ato Forson, is really focused on making sure that the government doesn’t get into more debt. He wants to keep things organized and clear when it comes to how the government spends money.
Dr. Forson talked about some new changes to the Public Financial Management Act. These changes are meant to help the government be more careful and open about how it buys things and manages contracts. This means they want to make sure everything is done the right way!
He shared this information during a meeting with Jeremy Awori, the CEO of Ecobank Group. They discussed how important it is for banks to help the country’s economy get better, especially when it comes to businesses and farming.
Dr. Forson also mentioned that the Auditor-General will soon share a report about money that contractors are owed. This report will help the government start paying back what it owes.
The government has a big task ahead because it inherited a huge debt of GH¢67 billion from contractors. They plan to sort this out over the next four years.
In the 2025 Budget, the government has set aside GH¢13 billion to start paying off these verified claims. This is a big step towards making things right!
Ecobank, being the biggest bank in the country, is encouraged to help out more with the country’s recovery, especially in helping businesses grow and supporting farmers.
Jeremy Awori, the CEO of Ecobank, said that the bank is ready to help Ghana get back on its feet. He is excited to lend more money and work closely with the government to make things better.
The meeting also had John Abdulai Jinapor, the Minister for Energy and Green Transition, who joined in on the discussions.
In summary, the Finance Minister and the bank leaders are working together to make sure the country’s money is managed well and to help everyone get back on track!