The government has created two special accounts to make sure it can pay back its loans without sudden budget crises.
Finance Minister Dr. Ato Forson announced the new Cedi and US Dollar Sinking Fund Accounts, designed to cover bonds that will come due over the next few years.
This planning move is part of a wider effort to restore faith in Ghana’s economy. It follows a recent GH¢9.7 billion coupon payment to domestic bondholders, which brings this year’s total payments under the debt exchange program to nearly GH¢20 billion. Forson said the government is determined to keep its promises to investors.
What does this mean for ordinary Ghanaians? Stable debt payments help avoid panic that can hurt the currency or drive up inflation. When the state manages its money predictably, it’s less likely to cut public services or freeze projects mid-way because of a cash shortage.
Market analysts see the funds as a positive signal. By putting money aside today, Ghana shows it’s getting serious about long-term fiscal responsibility. That could make the country’s bonds more attractive and borrowing cheaper down the line.
It’s a technical step, but an important one. After years of economic strain, the move toward forward-looking planning might just be what Ghana needs to turn the corner.
Source: newsghana.com.gh
