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Ghana Targets Cocoa, Energy Cuts to Tackle Debt Crisis

3/13/2025

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Summary

Story summary

Ghana's Finance Minister Cassiel Ato Forson revealed crucial spending cuts targeting the cocoa and energy sectors to tackle a larger-than-anticipated deficit and debt crisis. With a goal of achieving 4% GDP growth and reducing inflation to 11.9% by year-end, the government is also restructuring $8.7 billion in debt as part of an ongoing IMF bailout.

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Story summary

Ghana's Finance Minister Cassiel Ato Forson revealed crucial spending cuts targeting the cocoa and energy sectors to tackle a larger-than-anticipated deficit and debt crisis. With a goal of achieving 4% GDP growth and reducing inflation to 11.9% by year-end, the government is also restructuring $8.7 billion in debt as part of an ongoing IMF bailout.