Acknowledging that Ghana had faced challenges in implementing its IMF programme, he assured that the government remained committed to making the necessary adjustments this year.

During a meeting with the US Ambassador to Ghana, Virginia Palmer, on March 25, Dr Forson reaffirmed the government’s awareness of outstanding arrears owed to Independent Power Producers (IPPs) and outlined steps being taken to resolve the issue.

"I assured the Ambassador that we are fully aware of the outstanding arrears to Independent Power Producers (IPPs) and that decisive steps are being taken to address them," he stated.

He further emphasised that the government had successfully implemented the Cash Waterfall Mechanism to prevent future arrears and was in the process of renegotiating power purchase agreements, which would be submitted to Parliament for approval.

Dr Forson also shared that Ambassador Palmer had congratulated him on his appointment and commended his recent address at the Economic Dialogue, describing it as the most candid speech she had heard from a Finance Minister in the last forty years.

"Ambassador Palmer congratulated me on my appointment and commended my recent address at the Economic Dialogue, describing it as the most candid speech she has heard from a Finance Minister in the last forty years," he said in a Facebook post.

He noted that Ambassador Palmer welcomed the government’s commitment to settling payments owed to US companies, highlighting the importance of the Ghana-US partnership.

"This meeting reinforced the strong partnership between Ghana and the United States," he added.

Dr Forson reiterated the government’s dedication to financial reforms and economic stability, assuring that measures were being put in place to strengthen the economy.

"We recognise the need for urgent financial reforms, and we remain focused on implementing the necessary measures to stabilize our economy and secure a sustainable future for our people", he added.