‘Gov’t will work collaboratively with BoG to stabilise Ghana’s foreign exchange’  

By Godwill Arthur- Mensah

Accra, Jan. 13, GNA – Dr Cassiel Ato Forson, the finance minister-designate, says the Government will work collaboratively with the Bank of Ghana (BoG) to anchor the country’s foreign exchange regime. 

Answering questions during his vetting by the Appointments Committee of Parliament in Accra on Monday, Dr Forson said the Government would rake-in revenue through fiscal discipline and compliance, and not necessarily introducing additional taxes to burden the taxpayer. 

He reiterated the NDC government’s stance to abolish the Electronic Transfer Levy (E-levy) and the betting taxes during its first budget. 

Dr Forson, also the Majority Leader and Member of Parliament for Ajumako/Enyan/ Essiam in the Central Region, said the Mahama Administration would invest heavily in modernising agriculture to ensure stable and affordable food prices across the country. 

The Government would allocate resources in its priority policies to create jobs and bring down the surging inflationary rate, which is currently hovering at 23.8 per cent. 

“The government will cut off wasteful expenditures and the National Cathedral Project is one of them, and so, we will identify the waste in the system to minimise costs,” he said. 

Dr Forson said the NDC-led Government would establish an independent debt management office to report transparently on the country’s debt issues. 

It would also increase its tax-revenue-GDP ratio to 16 per cent from the current 13.8 per cent. 

“The Government will implement a careful frontloaded consolidated agenda that will not hurt the vulnerable,” he assured. 

When pushed to mention how much a 64kg cocoa bag would be purchased, Dr Forson could not provide a specific price, noting that he would advocate fair cocoa prices for farmers as the current price build-up was below farmers’ expectations. 

“As Minister of Finance, I will champion fair pricing for cocoa farmers. I have been the biggest advocate for cocoa farmers and will work to improve their lots,” he assured. 

Dr Forson is said to have promised during the 2024 electioneering that the National Democratic Congress-led government would increase the 64kg cocoa bag price from GHS3,000 to GHS 6,100 if given the mandate. 

On Thursday, January 9, 2025, President John Dramani Mahama submitted his first batch of ministerial nominations to the Speaker of Parliament in accordance with Article 78 of the 1992 Constitution.  

The nominees are Dr Cassiel Ato Baah Forson, Finance; Mr John Abdulai Jinapor,  Energy; and Dr Dominic Akuritinga Ayine, the Attorney-General and Minister of Justice. 

GNA