Dr. Cassiel Ato, the Minister of Finance, states that, Ghana has won back the trust of foreign investors, and the international capital market is now extending an invitation for the nation to borrow money as a result of economic growth.
Addressing the Parliament, Ato According to Forson, the Mahama administration’s careful handling of the economy is what has restored investor trust.
He pointed out that Ghana lacked access to the global finance market during the previous Akufo-Addo administration.
The Finance Minister stated that the government is not in a rush to go back to the global market to raise money, despite investors’ renewed enthusiasm.
He says that prudent economic management and fiscal restraint have greatly improved key macroeconomic indicators.
“The progress Ghana is recording today did not happen by chance. It is superior economic management,” Dr. Forson said to parliament.
According to Dr. Forson, the Mahama administration took over a challenging economy marked by excessive borrowing, careless spending, and a significant decline in the value of the cedi.
“President Mahama took over an economy with reckless spending, excessive borrowing, and lack of accountability. President Mahama took over an economy that was on its knees,” he said.
The Finance Minister warned against going back to measures that would cause another economic catastrophe, claiming that bad policy choices, excessive borrowing, and fiscal indiscipline were the causes of the 2022 crisis.
He emphasised that the government is still dedicated to preserving economic stability and preventing a recurrence of the catastrophic devaluation of the cedi.
“The 2022 economic crisis was not merely an accident but the result of poor policy choices, reckless spending and excessive borrowing,” he stated.
Source: newsthemegh.com