Haruna Iddrisu Rallies Support for Ato Forson, Says IMF Data Proves Ghana Economy Stable
Gladson Afriyie
Journalist
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Minister for Education Hon. Haruna Iddrisu has praised Finance Minister Dr. Cassiel Ato Forson for his handling of the economy, urging Parliament and the public to back him as Ghana begins a new IMF engagement.
Commenting on Dr. Forson’s statement on Ghana’s Programme Monitoring with Board Involvement, or PCI, Iddrisu told the House that IMF and World Bank statistics remain globally accepted benchmarks for economic performance.
“The Minister for Finance has mounted a strong defence of this economy,” Iddrisu said. “I urge all of us to support him. The economy was recovering when we took over, and the data proves it.”
He challenged critics to dispute Ghana’s stability gains. “Let anybody challenge me and challenge this House that Ghana has not achieved economic stability under Minister Ato Forson. Let anybody, including the IMF,” he said.
Iddrisu pointed to inflation dropping from over 54 percent in 2022 and 2023 to 23 percent, and now to 3.8 percent. He said GDP growth has moved from 4.7 percent to 5.7 percent and is projected at 6.2 percent. External reserves, he added, have risen from $4 billion to $10 billion and now stand at $14 billion.
On unemployment, the Education Minister said stability must come before job creation. “How can an economy respond to addressing unemployment when that economy has not been stabilised?” he asked. He said government is rolling out import substitution through the 24-hour economy and the Accelerated Export Development Programme to tackle joblessness.
Addressing revenue targets, Iddrisu noted that the 18 percent revenue to GDP goal set in 2018, 2019 and 2022 was never met by the previous administration. “I agree that it can be an aspiration that we can work towards,” he said.
He also defended the Bank of Ghana over its reported losses, calling them real and material. “But show me a central bank with a balance sheet worth it when the balance sheet does not contribute to managing economic distress of that country,” he said.
Iddrisu said the new PCI keeps Ghana under IMF supervision without fresh borrowing and urged MPs to support the programme to consolidate gains.
