President Mahama has assigned Dr. Cassiel Ato Forson, the recently inaugurated Minister of Finance, the crucial mandate of addressing Ghana’s pressing economic issues. These include curbing inflation, stabilizing the national currency, and promoting macroeconomic stability.

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During the swearing-in ceremony for six newly confirmed ministers at the Jubilee House on Wednesday, January 22, President Mahama emphasized the critical role economic stability plays in improving the livelihoods of Ghanaians.He called on Dr.

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Forson to deliver measurable outcomes that would help mitigate the economic hardships citizens are currently enduring, remarking:“The people of Ghana are looking up to you to reduce inflation, make life affordable, reduce the cost of living. Ghanaians are looking up to you to bring our national debt to sustainable levels and they are looking to you to stabilise our currency so that we can achieve macroeconomic stability.

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”The president stressed the necessity of rebuilding public trust in Ghana's economy through effective fiscal policies and strategic planning. He acknowledged the hardships faced by citizens and underscored the urgency of addressing the nation’s economic hurdles.As Finance Minister, Dr. Ato Forson faces an uphill task, starting with the imperative to rein in inflation.

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The current high inflation rate has significantly diminished the purchasing power of Ghanaians, driving up the cost of essentials and putting immense strain on household finances.Another critical priority is stabilizing the cedi, which has suffered sharp depreciation against major foreign currencies in recent months. This devaluation has exacerbated inflation and inflated import costs.

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Addressing this challenge will involve strengthening foreign reserves, enhancing export capacity, and reducing the economy's reliance on imports.Ghana’s escalating national debt adds another layer of complexity. The debt-to-GDP ratio has reached precarious levels, sparking concerns over the country’s ability to meet its debt obligations. Dr.

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Forson must chart a course of fiscal discipline, explore creative funding solutions, and negotiate favorable debt restructuring to mitigate this issue.The soaring cost of living remains a pressing concern, with skyrocketing prices for food, utilities, and transportation taking a heavy toll on the populace. Alleviating these pressures will be pivotal to improving the standard of living for Ghanaians.With these formidable challenges at hand, Dr.

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Forson’s leadership will be instrumental in achieving economic recovery and fostering sustainable growth for the nation.

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