Founder and president of the IMANI Centre for Policy and Education, Franklin Cudjoe, has lauded Ghana’s finance minister, Dr Cassiel Ato Forson, for what he describes as a historic turnaround in the country’s debt and inflation trajectory.
In a post on his official Facebook page on Monday, January 12, 2026, Cudjoe said the pace of fiscal repair achieved under the National Democratic Congress (NDC) government was unprecedented in Ghana’s economic history.
“Reducing a country’s debt from 62% of GDP to 45% in a year is unheard of in Ghana’s economic history. Ato did it,” he wrote, directly crediting Forson for the progress.
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The NDC administration took office on January 7, 2025, inheriting an economy burdened by high inflation, heavy public debt, and currency instability. At the time the previous government exited, the public debt-to-GDP ratio stood at about 62 percent.
However, one year later, government figures indicate that the debt-to-GDP ratio has fallen sharply. Data released by the Finance Ministry shows that public debt declined to 43.8 percent of GDP by the end of June 2025, down from 61.8 percent in December 2024.
The improvement has been attributed to a stronger cedi, nominal GDP growth, and strict fiscal controls.
Cudjoe’s praise comes as Ghana enters 2026 with signs of macroeconomic stabilisation. The government’s 2026 budget projects 4.8 percent GDP growth, supported by easing inflation, lower interest rates, and a more stable currency.
FKA/MA
