Finance Minister Dr Cassiel Ato Forson has announced that the government's debt repayment "war chest" (sinking fund) has grown to GH¢15.6 billion as of July 22, 2026, as part of efforts to meet major domestic debt obligations due in 2027 and 2028.

Presenting the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, 2026, Dr Forson said the government remains on course to build the sinking fund to GH¢30 billion by the end of the year.

According to him, the strengthened sinking fund forms part of the government's medium-term debt management strategy and is intended to ensure Ghana can meet its future debt repayments without financial strain.

"Meeting obligations of this magnitude requires advanced planning, not last-minute scrambling. This is precisely why this government has strengthened the sinking fund to set aside money to repay future debt obligations that we inherited," he told Parliament.

Dr Forson explained that under the government's 2026–2029 Medium-Term Debt Management Strategy, 7 per cent of non-oil tax revenue, together with proceeds from domestic bond issuances, will be channelled into the sinking fund to prepare for debt maturities in 2027 and 2028.

"I am proud to report to this House that as of yesterday, July 22, the war chest holds GH¢15.6 billion. We are on course to accumulate GH¢30 billion in the sinking fund by the end of 2026," he said.

The Finance Minister stated that the projected amount would be sufficient to settle the GH¢30 billion Domestic Debt Exchange Programme (DDEP) bonds maturing in February 2027.

"This will be enough to repay the GH¢30 billion Domestic Debt Exchange Programme debt that will fall due in February 2027. Brick by brick, cedi by cedi, we are building the wall that will meet the wave so that when 2027 and 2028 come, Ghana will not scramble. Ghana will simply pay back this debt," he added.

Dr Forson said the growing sinking fund demonstrates the government's commitment to prudent fiscal management and sends a positive signal to investors, credit rating agencies and the Ghanaian public.

According to him, the initiative reflects a proactive approach to public debt management and reinforces confidence in the country's fiscal outlook.

Background

The Finance Minister presented the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, 2026.

The review, required under Ghana's public financial management laws, provides an update on the country's economic performance during the first half of the year, including government revenue and expenditure, debt servicing and the fiscal outlook for the remainder of 2026.