Finance Minister Dr Cassiel Ato Forson has dismissed claims that he is overly cautious with government spending, insisting that the fiscal restraint guiding his decisions stems from commitments made under the previous administration's International Monetary Fund (IMF) programme.

Speaking on PM Express' Mid-Year Scorecard, Dr Forson said the New Patriotic Party (NPP) government agreed to maintain a primary surplus of 1.5% of GDP when it secured a $3 billion IMF bailout, a commitment his administration is obligated to honour.

"The NPP went into an IMF programme, signed an agreement with the IMF and borrowed $3 billion from them and committed us, this government, that we will do 1.5% of GDP," he said.

"IMF does not deal with political parties. They deal with governments and countries. I have a responsibility to achieve 1.5% of GDP."

Asked whether the government should default on the target, Dr Forson responded: "Certainly no. I have to make sure that this condition is met."

According to him, Ghana's adherence to the IMF programme's conditions has placed the country in a strong position for the Fund's Executive Board to approve its exit from the programme.

Dr Forson disclosed that the government had recorded a primary surplus of 0.9% of GDP by the middle of the year, which, if sustained, would annualise to about 1.8% of GDP.

"That gives us room to spend 0.3% more by the end of the year and still meet the 1.5% target," he explained.

Responding to suggestions that the restrained spending reflected his personal style as Finance Minister, Dr Forson said the current fiscal discipline was the direct result of commitments inherited from the previous administration.

"It is President Akufo-Addo and his government that took Ghana to the IMF and agreed to this conditionality. Unless they want me and President Mahama to derail the IMF programme, spend as if there's no tomorrow, crash the economy again, and return the country to another economic crisis with another haircut," he said.

The comments come amid continuing debate over whether the government's cautious fiscal stance under the IMF-supported programme represents prudent economic management or imposes excessive austerity as Ghana works toward completing the programme.