Experts warn Ghana’s currency stability depends on tough financial management
Leading economists have issued a stern warning to the government, stating that the stability of the Ghanaian cedi hinges on strict fiscal discipline, including controlled spending, prudent borrowing, and efficient revenue collection.
“Without fiscal restraint, the cedi will continue to weaken, hurting businesses and households alike,” one economist told reporters, emphasizing the urgent need for sound economic management.
THE FISCAL DILEMMA
Experts highlighted key areas that require immediate attention:
- Excessive government spending risking inflation
- Rising public debt putting pressure on the currency
- Inefficient revenue systems undermining economic stability
CALL FOR IMMEDIATE ACTION
The economists advised that the government must:
- Stick to budgetary discipline
- Prioritize revenue mobilization over borrowing
- Ensure transparency and accountability in public finances
THE BIGGER PICTURE
Ghana’s economic growth and citizens’ purchasing power are directly tied to the strength of the cedi. Failure to act decisively, experts warn, could lead to higher inflation, reduced investor confidence, and social strain.
“Fiscal discipline is not optional—it’s the foundation of a stable currency and a healthy economy,” they concluded.
