Cedi stabilization key for Ghana – Ato Forson outlines strategy

Finance Minister-designate Dr. Cassiel Ato Forson has 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.

“As a government, we must act responsibly. The Ministry of Finance and the Central Bank must work in harmony to stabilise the currency and prevent unnecessary shocks to the economy,” he noted.

Dr. Forson also has reiterated the Mahama government’s commitment to maintaining and enhancing the Free Senior High School (SHS) policy, which was originally introduced by the Akufo-Addo administration.

”My party’s position on Free SHS has been well articulated by H.E President [John Dramani Mahama]. We do not intend to cancel the Free SHS. President Mahama has said the Free SHS has come to stay.”

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