Ghana’s Proposed Loans Act: Can Legislation Enforce What Conditionality Cannot?

ACCRA — Finance Minister Dr Cassiel Ato Forson has announced that government is preparing to introduce a new Loans Act aimed at tightening controls on public borrowing and ensuring that all debt contracted delivers measurable value to the economy. The proposed legislation will strictly define the permissible uses of borrowed funds, with a clear requirement that every loan be linked to high-impact, value-for-money investments.