Cedi Gains: Government is spending; we have ended the era of reckless spending - Ato Forson

The Finance Minister, Dr. Cassiel Ato Forson, has criticized the former NPP government, stating that the appreciation of the Ghana cedi is not due to a lack of government spending, but because the era of reckless spending has ended.

Speaking on the floor of Parliament on Tuesday, June 3, 2025, the finance minister and Member of Parliament for Ajumako-Enyan-Essiam, Dr. Ato Forson, debunked the propaganda by the Minority caucus in Parliament, whose position has been that the Ghana cedi is experiencing dramatic growth against major trading currencies, including the United States dollar, because the government has not paid contractors and other fund-demanding projects.

“It is not true that the government is not spending. Mr. Speaker, we have ended the era of reckless spending. We are spending prudently. The NDC will not spend recklessly. We will spend according to what we have,” he stated on the floor of Parliament.

Speaking further, Dr. Ato Forson argued that the government can only spend what it has. According to him, the previous government spent money it didn’t have, which led to a haircut on the bonds of Ghanaian pensioners and other bondholders.