Ghana is set to introduce a new Loans Act to regulate the use of borrowed funds, ensuring that every loan is tied to high-impact, value-for-money investments, Finance Minister Dr Cassiel Ato Forson has announced.<\/p>\n
In a Facebook post on Monday, March 30, Dr. Forson explained that the legislation forms part of broader reforms to strengthen fiscal discipline and safeguard the country\u2019s debt sustainability.<\/p>\n
\u201cAs part of this reset, the government will introduce a new Loans Act to strictly define the use of borrowed funds, ensuring that every loan is tied to high-impact, value-for-money investments,\u201d he said.<\/p>\n
The Finance Minister stressed that Ghana\u2019s borrowing strategy will prioritise projects that deliver tangible benefits to citizens, saying:<\/p>\n
\u201cOur guiding principle is simple: whatever we borrow must be worth it and must deliver tangible benefits to the Ghanaian people.\u201d<\/p>\n
Dr. Forson made the announcement alongside news that Ghana has signed its 11th bilateral debt restructuring agreement, this time with Export-Import Bank of India, a move he described as part of ongoing measures to stabilise the economy and reduce the national debt burden.<\/p>\n
\u201cI recently signed Ghana\u2019s 11th bilateral debt restructuring agreement, this time with EXIM India,\u201d he noted, adding that key economic indicators suggest the country is gradually moving towards a low risk of debt distress.<\/p>\n
\u201cWe are moving steadily towards a low risk of debt distress, with clear indicators that the worst is behind us,\u201d Dr. Forson said.<\/p>\n
He reaffirmed the government\u2019s commitment to honour all restructured obligations on time and to avoid a return to unsustainable borrowing, which contributed to the country\u2019s recent financial challenges.<\/p>\n
\u201cGhana will not return to a path of unsustainable borrowing,\u201d he emphasised.<\/p>\n
The new Loans Act, Dr. Forson said, is expected to ensure that all future borrowing is strictly linked to projects that provide real, measurable benefits to Ghanaians, reinforcing the government\u2019s focus on debt sustainability and fiscal accountability.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ghana is set to introduce a new Loans Act to regulate the use of borrowed funds, ensuring that every loan is tied to high-impact, value-for-money investments, Finance Minister Dr Cassiel Ato Forson has announced. Ghana travel guide In a Facebook post on Monday, March 30, Dr. Forson explained that the legislation forms part of broader […]<\/p>\n","protected":false},"author":123457,"featured_media":16245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[4217,9,3525,41],"tags":[3290,5179],"class_list":["post-16374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accountability","category-business","category-economy","category-general-news","tag-cassiel-ato-forson","tag-new-loan-act"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/123457"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16374"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16374\/revisions"}],"predecessor-version":[{"id":16375,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16374\/revisions\/16375"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/16245"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}