This was made possible by the steady stability being experienced in the economy, the President stated.

“However, future borrowings will be linked to self-financing and com­mercially viable projects particularly by MDAs, MMDAs, and SOEs to ensure value for money and sustain­able repayments,” he said.

President Mahama made this known in Accra yesterday when he addressed the ninth edition of the CEOs summit on the theme “Leading Ghana’s Economic Reset: Transforming Business and Gov­ernance for a Sustainable Futuristic Economy”.

The bond market was closed on Ghana in 2022 after it defaulted in debt payments, a default which led to the debt restructuring programme.

The idea to return to the bond market President Mahama said was part of an eight-point agenda to reset the Ghanaian economy.

As part of the measures, President Mahama said, included completing the IMF programme with discipline, empowering MDAs and MMDAs to borrow on their balance sheet, amongst others.

“We’ll continue the discipline in government expenditure and borrowing and work to achieve all targets under the extended credit fund with a programme with the IMF,” he said.

“We expect to conclude the fourth review of the IMF programme in June with the target to exit at the end of the programme in 2026 and thereafter, we’ll participate in Article four consultations and adopt the policy support framework signal­ling Ghana’s return to responsible non-borrowing engagement with the fund.”

Under the revitalisation pro­gramme, President Mahama said MMDAs and MDAs would be empowered to issue infrastructure and municipal bonds to fund infra­structure projects like roads, schools, water systems, and local industries in the areas.

He said the Auditor-General was auditing government commitments and that government would clear arrears transparently to enforce commitment controls, prioritise new projects based on need and funding availability in alignment with national interest, and accelerate public finan­cial management reforms.

The Ghana Exim Bank, as part of the reforms, he said, would be revitalised to support non-tradi­tional export, agro processing, light manufacturing, to enhance foreign exchange inflows.

“This reset will only succeed with the private sector at its core. We are restoring macroeconomic stabili­ty not as an end in itself but as a platform for private investment,” President Mahama said, assuring that government would consult the private sector in major government decisions every step of the way.

The Governor of the Bank of Ghana, Johnson Pandit Asiama, on his part assured the investor commu­nity that the recent strength of the Ghana cedi was not artificial.

“The bank is not using its reserves to support the cedi nor engineering appreciation that would not be sus­tainable. It is all market driven.”

Reiterating that the cedi remained the only legal tender in transact­ing business in Ghana, he said the growth prospects of the country were strong with a foundation to build a sustainable and predictable business environment for invest­ments.