Dr Cassiel Ato Forson, the Finance Minister-designate, has assured former President Nana Akufo-Addo and the people of Ghana that the country will not default on its debt obligations under his leadership.

Speaking before the Appointments Committee of Parliament on Monday, 13 January, Dr Forson addressed concerns raised by the former President during his final State of the Nation Address.

In his address on 3 January 2025, Nana Akufo-Addo emphasised the critical importance of maintaining Ghana’s financial commitments, urging the incoming Finance Minister to prioritise the nation’s debt repayments.

He also announced that his government had made a payment of $346 million to Eurobond holders, underscoring Ghana’s commitment to honouring its obligations.

Dr Forson responded by reassuring the nation, stating: “As I’ve said, don’t be scared. We will manage this debt.”

He further acknowledged the former President’s advice, using the opportunity to reaffirm his commitment to upholding the country’s financial reputation.

“His Excellency the former President in his last State of the Nation Address said that he did not expect the incoming Finance Minister to default, and I want to use this podium and tell him that we will not default,” Dr Forson added.

The Finance Minister-designate outlined his intention to implement prudent fiscal measures aimed at ensuring economic stability and meeting the country’s debt obligations.

He emphasised that with careful management and a commitment to fiscal responsibility, Ghana would continue to meet its financial commitments and avoid default.