Finance Minister Cassiel Ato Forson has signaled a strategic shift in the government’s economic policy, moving from a period of stabilization to an aggressive focus on job creation, particularly for the nation’s youth. He made this known during high-level discussions with the World Bank in Washington.
Dr. Forson met with the World Bank’s Managing Director and Chief Knowledge Officer, Paschal Donohoe, to outline Ghana’s “next phase of development.” The talks centered on strategies to not only sustain the fragile economic recovery but also to translate that stability into tangible employment opportunities.
“While the past year has been dedicated to resetting the economy and placing it firmly on the path to sustainability, our immediate focus now is shifting toward creating sustainable employment,” Dr. Forson stated following the meeting.
The Finance Minister identified unemployment as one of the most pressing challenges currently facing the country. He emphasized that the government is under no illusion that the public sector can solve the problem alone, given Africa’s rapidly growing youthful population.
“It is clear that public sector employment alone cannot provide the opportunities our young people need,” Dr. Forson explained. “We are therefore putting in place major policies and programmes designed to stimulate private sector expansion, as that is the only sustainable way to create jobs at scale.”
In response, Paschal Donohoe congratulated Ghana on the “significant progress” made in improving its fiscal situation. He reassured the Finance Minister of the World Bank’s continued commitment to supporting the country’s agenda.
According to Dr. Forson, the World Bank has pledged to provide technical support through a comprehensive “Jobs and Growth Analysis.” This analysis is expected to help identify new sectors and opportunities for labor absorption, ensuring that policy interventions are data-driven and effective.
The Finance Minister welcomed the institution’s continued collaboration, expressing optimism that the partnership will be crucial in expanding economic opportunities for Ghanaians.
“I welcome the World Bank’s continued partnership as we work to create jobs, expand opportunities, and secure a more prosperous future for our people,” he added.
This engagement forms part of broader consultations between Ghana and its international development partners as the government seeks to consolidate economic gains while tackling deep-rooted structural challenges like unemployment.
