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Economy and development chair highlights positive economic outlook
The Chairman of the Economy and Development Committee, Dr. Eric Afful, has urged Ghanaians to embrace the current positive trend in the country’s economy.
He said doing so would help inform better decisions by households, businesses, and government, which is bound by a social contract with the people.
He pointed out to a steady decline in headline inflation, citing data from the Bank of Ghana.
According to him, inflation dropped by 2.6 percentage points to 21.2 percent in April 2025 and further to 18.3 percent in May 2025.
He noted that, this has led to a reduction in the prices of goods and services across the country.
He made this statement on the floor of the House when he was presenting highlights of the positive trend of the economy of Ghana.
He also referred to recent fiscal reports showing that as of the end of March 2025, Ghana’s public debt stood at GHS 769.4 billion, representing 55 percent of GDP.
This marks an improvement from December 2024, when the debt stock was GHS 726.7 billion or 61.8 percent of GDP.
Dr. Afful also highlighted the strong rebound of the cedi against major trading currencies, attributing the development to a combination of tight monetary policy and ongoing fiscal consolidation measures.
He encouraged Ghanaians to support the government in achieving the financial and economic targets outlined in the 2025 Budget Statement and Economic Policy.
The Diaspora Affairs Office at the Office of the President has hosted a delegation of African diaspora women who are in Ghana ahead of a planned Presidential Conferment of Citizenship ceremony.
The Director of Diaspora Affairs, Kofi Okyere Darko, explained in a Facebook post that the visit was a gesture of appreciation by the delegation to the Government of Ghana for its continued efforts to reconnect Africans in the diaspora with their ancestral homeland.
He indicated that the ceremony, scheduled for next Monday, will officially grant Ghanaian citizenship to members of the delegation as part of the country’s broader engagement with the African diaspora.
The delegation was led by Erica Bennett, Founder of the Diaspora Africa Forum.
According to Mr Okyere Darko, her years of advocacy have played an important role in strengthening ties between Africa and people of African descent living abroad.
He noted that the group’s journey towards citizenship represents not only a legal process but also a cultural and spiritual return to their roots.
Also present at the meeting was Natalie Jackson, an attorney who is also expected to receive Ghanaian citizenship during the ceremony. She works closely with renowned civil rights lawyer Ben Crump.
Mr Okyere Darko emphasised that Ghana remains committed to strengthening relationships with the African diaspora and promoting unity, identity, and shared heritage among people of African descent worldwide.
By: Jacob Aggrey
Ghana has signed a debt restructuring agreement with the Kingdom of Belgium as part of efforts to restore the country’s economic stability after the financial crisis that hit the nation in 2022 and 2023.
The Minister of Finance, Cassiel Ato Forson, today disclosed that he signed the agreement on behalf of the Government of Ghana.
He explained that Ghana experienced a very difficult period during the crisis, which forced the government at the time to declare a debt default.
However, he indicated that the country is now recovering and witnessing a significant economic turnaround.
According to him, stronger systems are also being put in place to ensure that Ghana does not return to such a situation again.
Dr Forson noted that the agreement with Belgium is the eighth deal Ghana has concluded with countries under the Official Creditor Committee as part of its external debt restructuring programme.
He expressed appreciation to the Government of Belgium for its support and partnership with Ghana during the process.
The Finance Minister thanked Carole van Eyll, Ambassador of Belgium to Ghana, for her role in strengthening relations between the two countries.
The agreement forms part of Ghana’s broader effort to restructure its external debts and stabilise the economy following the crisis.
By: Jacob Aggrey
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