The World Bank has approved $360 million in budgetary support for Ghana to help restore macroeconomic stability and accelerate inclusive, resilient growth.
The facility, under the Second Resilient Recovery Development Policy Operation (DPO), comes as a clear vote of confidence in the country’s ongoing economic reforms led by the new Minister for Finance, Dr. Cassiel Ato Forson which are beginning to yield tangible results.
The World Bank support is part of a wider effort to reinforce Ghana’s crisis response and long-term resilience. Specifically, the operation will support four priority areas: restoring fiscal sustainability; strengthening financial sector stability and private sector development; improving financial discipline within the energy sector; and enhancing social and climate resilience.
In six months, the Forson Doctrine introduced by Dr. Forson has offered a realistic, people-centered approach to governance aimed at restoring confidence in the local currency and building a foundation for long-term economic stability.
These efforts have contributed significantly to the stabilization of the Ghana cedi, improvement in inflation outlook, and the rebuilding of investor confidence.
A clear testament to this progress came recently when international ratings agency Fitch upgraded Ghana’s long-term local currency debt rating, citing improved macroeconomic performance and fiscal consolidation.
“The successful implementation of reform actions under the IMF program and the Development Policy Operations series (DPO) has strengthened macroeconomic stability, restored investor confidence, and laid a solid foundation for sustained economic recovery and inclusive growth,” said Dr. Ato Forson. “We are confident that the measures supported by this DPO will help our efforts to enhance fiscal discipline and build a more resilient and inclusive economy, capable of withstanding future shocks.”
Robert Taliercio, World Bank Director for Ghana, Liberia and Sierra Leone, emphasized the significance of the reforms, stating: “Entrenching fiscal and debt sustainability, improving the business environment to attract investment and create jobs, addressing long-rooted energy sector challenges, and protecting the most vulnerable, measures supported by this financing, continue to be urgent priorities for Ghana.”
Indeed, the Ghanaian government’s reform momentum has been positively received by global partners and markets alike. The cedi, once under heavy pressure, has appreciated modestly in recent weeks and shown greater stability against major currencies, a reflection of stronger market confidence and better forex management under the Bank of Ghana’s coordinated efforts.
The DPO-backed program also supports structural reforms to expand domestic revenue generation, promote private sector-led growth, and deepen financial inclusion. Social safety nets and climate adaptation policies are also being prioritized as part of the country’s broader sustainability framework.
The World Bank’s latest support package is therefore more than a financial injection, it is a stamp of approval on Ghana’s reform-driven recovery and a reaffirmation of the international community’s confidence in the country’s economic leadership under Dr. Forson.
