The Finance Minister-designate, Dr Cassiel Ato Forson, has outlined his top priorities as ensuring a stable Ghanaian cedi, reducing the cost of living, and creating jobs. Emphasising the need for sound fiscal and monetary policies to foster economic stability and growth, he highlighted the importance of tackling inflation, which has significantly affected the purchasing power of citizens.
Dr Forson pledged to adopt prudent fiscal measures to curb price increases and ensure that the government’s spending aligns with its revenue-generating capacity.
“My priority is to achieve a stable cedi, lower prices, and create jobs for our people,” Dr Forson said when he appeared before the Appointments Committee of Parliament last week. “A strong currency reflects a resilient economy, and I am committed to working with the Bank of Ghana and other stakeholders to stabilise the cedi and reduce the financial burden on Ghanaians.”
“We must restore confidence in our economy by managing resources efficiently and avoiding unnecessary wastage,” he noted.
Dr Forson also emphasised the role of job creation in addressing the country’s economic challenges, particularly unemployment among the youth. He stressed the need to create an enabling environment for private sector growth and attract investments to generate sustainable employment opportunities.
“Job creation will be at the heart of our economic strategy, and I will work tirelessly to create avenues for every Ghanaian to thrive,” he assured.
Consequently, he vowed to stabilize the cedi through effective coordination with the Bank of Ghana. He emphasizes the need for a joint effort to anchor the currency, acknowledging the significant impact of depreciation on Ghana’s debt.
“As long as you borrow in foreign currencies, any depreciation of the cedi will directly impact the debt figures,” he explained. “When approved as Minister, I will work or coordinate effectively with the central bank so that together, we can anchor the currency,” Dr. Forson pledged.
Forson also criticized the previous government’s approach to debt reporting, highlighting the need for an independent Debt Management Office to ensure transparency and avoid future inconsistencies.
