President of IMANI Africa, Franklin Cudjoe, has praised Ghana’s Finance Minister, Dr Cassiel Ato Forson, for demonstrating commendable fiscal discipline during the government’s first six months in office.
Speaking on Joy FM’s Super Morning Show, Mr Cudjoe highlighted the year-to-date performance of the Ghanaian Cedi, estimated at around 42 per cent, as a positive indicator of macroeconomic stability. He noted that while some gains may be influenced by external factors, the Ministry of Finance’s prudent approach is already yielding results.
“Some level of discipline has been instilled,” he said. “While I have no issue with anyone taking credit, we must not lose sight of the magnitude of the challenges we’ve faced. The current leaders, especially the Finance Minister, must remain grounded. We are still in the honeymoon phase.”
Mr Cudjoe emphasised that long-term economic stability requires continued fiscal restraint and cautioned the administration against early celebration of the recovery signs.
Referring to a recent exchange on PM Express, he mentioned how former Vice President Dr Mahamudu Bawumia had challenged the government to identify a single policy responsible for the current economic recovery. In reply, Dr Ato Forson had pointed to fiscal discipline as the foundation of the turnaround.
“The answer Ato gave was the definitive one,” Mr Cudjoe stated. “He said, ‘If there’s nothing else, we’ve been financially disciplined. We’ve not been reckless. We’ve not borrowed recklessly.’ The evidence is there, the treasury bill rates are declining.”
Contrasting the current approach with what he described as excessive public spending by previous governments, Mr Cudjoe remarked: “They don’t take everything, unlike our cousins who would take everything and then celebrate and say they are doing well.”
Responding to criticisms that the current government is not spending enough, he argued that such expectations are unrealistic at this early stage of the administration.
“People say he’s not spending; I don’t understand. First six months, and you want the man to start spending? You can’t be drinking champagne and akpeteshie at the same time. You just don’t do that,” he concluded.
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