The newly sworn-in Minister for Finance, Dr. Cassiel Ato Baah Forson, has pledged to tackle Ghana’s economic challenges head-on, with a focus on reducing inflation, stabilising the exchange rate, and enforcing fiscal discipline.
Speaking to staff of the Ministry of Finance during his first official day in office, Dr. Forson outlined a vision centred on improving the livelihoods of Ghanaians while addressing the nation’s financial and structural challenges.
“Our work here is not just about numbers; it is about making a real impact on the lives of ordinary Ghanaians,” he said.
He promised to prioritise job creation, fiscal responsibility, and economic stability, while acknowledging the urgent need to address Ghana’s mounting debts and challenges in the energy sector.
With a critical GH¢6.1 billion bond payment looming in February 2025, the Minister emphasised the importance of collective effort in navigating the nation’s economic hurdles.
“We will work tirelessly to reduce inflation, stabilise the exchange rate, and create job opportunities for Ghanaians. Every decision we make will aim to improve the financial situation of families and businesses,” Dr. Forson added.
Establishing a Fiscal Institute
To strengthen public financial management, Dr. Forson announced plans to establish a Fiscal Institute to train heads of Ministries, Departments, Agencies (MDAs), and State-Owned Enterprises (SOEs). The initiative aims to ensure transparency, accountability, and efficiency in managing public funds.
“This institute will help leaders at every level improve financial management to better serve the Ghanaian people,” he explained.
Commitment to Reforms
Dr. Forson, who previously served as Deputy Finance Minister, expressed excitement about returning to the Ministry after eight years.
He described the Ministry of Finance as the backbone of government operations and reaffirmed his commitment to fiscal reforms.
He underscored the need for innovative strategies and consistent effort to stabilise the economy, reiterating his dedication to prioritising the well-being of all Ghanaians.
“We are here to serve the people, and we will remain mindful of their needs,” he concluded.
Accompanying Dr. Forson was Fifi Fiavi Kwetey, General Secretary of the National Democratic Congress (NDC), who highlighted the importance of teamwork in overcoming the country’s financial challenges.
“The work ahead will require dedication, creativity, and hard work, but I am confident that under Ato Forson’s leadership, we can make a meaningful difference,” Mr. Kwetey stated.
Chief Director of the Ministry, Eva Mends, also assured Dr. Forson of the staff’s full support in achieving the goals set out by President John Mahama’s administration.
Dr. Forson’s leadership comes at a crucial time, with the nation facing significant economic challenges. His ability to implement bold reforms will be pivotal in shaping Ghana’s financial future.