Ghana achieves moderate debt distress risk for first time since 2013 – Ato Forson

Finance Minister Cassiel Ato Forson has announced that Ghana has attained a moderate risk of debt distress for the first time since 2013, marking a significant improvement from previous unsustainable debt levels.

Speaking in Parliament on Tuesday, May 26 while laying four major statutory reports before the House, Dr. Forson said the development reflects government’s commitment to transparency, accountability, and prudent economic management.

“Mr. Speaker, I’m proud to inform the House that Ghana, for the first time since 2013, has achieved a moderate risk of debt distress, moving from unsustainable debt to high risk of debt distress and now to a moderate risk of debt distress,” he stated.

The Finance Minister presented reports covering the administration and utilisation of energy sector levy proceeds, petroleum receipts and transfers, as well as the implementation of public-private partnership initiatives across various sectors of the economy.

Dr. Forson also laid before Parliament the reconciliation report on the Petroleum Holding Fund for the 2025 fiscal year, noting that the submission was in compliance with provisions of the Petroleum Revenue Management Act.

According to him, the report provides a detailed account of petroleum revenues accrued to the state and how the funds were utilised, particularly in relation to energy sector debt recovery.

“Mr. Speaker this report details how the monies received and accrued to the state on the back of all the petroleum taxes were utilized, particularly the one relating to the management of the energy sector debt recovery,” he explained.

He added that further details contained in the report would be presented to the relevant parliamentary committee during deliberations.

“And so Mr. Speaker, the details are in the report and has accordingly been presented to the Committee for deliberation and when the Committee invites us, we will go and present the details,” Dr. Forson added.

Source: 3news.com by Raphael Ghartey