Dr. Cassiel Ato Forson, Ghana’s Finance Minister-designate, has categorically denied claims that he intends to seek additional financial support from the International Monetary Fund (IMF).

Speaking at his vetting by the Appointments Committee of Parliament on Monday, January 13, 2025, Dr. Forson emphasised that his earlier statements on the matter had been misconstrued by sections of the media.

“I didn’t say I was going to request additional finance from the IMF,” Dr. Forson clarified.

“It’s inaccurate reportage. What I said was that we could request additional finance if the need arises.”

Dr. Forson elaborated that his remarks were speculative and not indicative of any immediate action. He stressed the importance of preserving flexibility in Ghana’s economic strategy while reassuring Ghanaians that any decision to approach the IMF for additional funds would be based solely on necessity.

“The possibility of seeking additional IMF support should not be ruled out entirely,” he explained, “but such a decision would only be made if circumstances warranted it.”

Dr. Forson also used the platform to urge the media to exercise greater caution in reporting economic issues.

According to him, misrepresentation of sensitive economic matters has the potential to create unwarranted public panic.

“Sika mpɛ dede,” he said, referencing a popular Ghanaian phrase that translates to “money dislikes noise,” as he refrained from speculating about the true state of the economy.

As part of his medium-term economic vision, Dr. Forson revealed plans to increase Ghana’s tax revenue from the current 13.8% to 16–18% of GDP, should his nomination as Finance Minister be approved.

He argued that such an increase would be pivotal in ensuring Ghana’s fiscal sustainability without resorting to excessive borrowing.