Government will lock in economic stability to prevent another 2022 crisis – Ato Forson

The Minister for Finance, Dr Cassiel Ato Forson, has stated that government is taking steps to institutionalise its economic reforms to prevent Ghana from experiencing another crisis on the scale of 2022.

He said the government intends to use the current economic stability as a foundation to transform the economy, with the private sector playing a leading role in driving investment and job creation.

Dr Ato Forson made the remarks when he welcomed the Managing Director of the International Finance Corporation (IFC), Makhtar Diop, to the Ministry of Finance on Wednesday, September 16.

“We will lock in economic stability, prevent another 2022-style crisis and use this foundation to transform the economy and create meaningful jobs, especially for young people," he said.

The Finance Minister said the government’s long-term objective was to ensure that the reforms being implemented become institutionalised so that future administrations would not have to contend with crises similar to the economic difficulties experienced in 2022.

He said achieving sustained economic stability is also critical to making Ghana more attractive to investors and creating an environment where the private sector could drive economic transformation.

Dr Ato Forson said government is therefore working towards securing investment-grade status for Ghana and would require the support of the IFC to achieve that objective.

“We are focusing on ensuring that we can reach investment grade in the shortest possible time, and we will need the support of the IFC to push up Ghana to become an investment grade country," the minister noted.