Mr. Ken Ofori-Atta, the Minister of Finance, has underscored the imperative of sustained collaboration between the Ministry of Finance and the Bank of Ghana to ensure economic freedom and social mobility for all citizens.
Speaking at the Bank's End of Year Cocktail, Mr Ofori-Atta emphasized the need for both institutions to push boundaries and work together harmoniously.
“Ultimately, I know that once we all continue to speak one language, nothing we plan to do will be impossible,” remarked Mr. Ofori-Atta.
He urged for a unified effort to build hope and advance the nation collectively over the next 12 months.
Reflecting on the achievements over nearly seven years, the Finance Minister commended the collaborative spirit that has delivered significant feats, including the establishment of the Consolidated Bank of Ghana, the operationalization of the Development Bank, and the successful raising of over $10 billion in the Eurobond market.
Acknowledging the recent global challenges that have impacted the economy, Mr Ofori-Atta highlighted the resilience of the collaborative spirit between the Ministry of Finance and the Bank of Ghana.
He expressed pride in the transformation of the economy, noting achievements such as economic growth rebound, stabilized exchange rates, and softening interest rates.
About the recent report by the Ghana Statistical Services, which indicated a decrease in inflation to 26.4% in November 2023 from 35.2% in October 2023, Mr Ofori-Atta stressed the importance of their joint efforts in tackling inflation.
“While it is welcome news that prices are no longer rising as quickly, we know many people continue to face severe cost of living pressures. So, we must stay the course to continue to get inflation back down to single digits as quickly as possible,” he affirmed.
The Finance Minister concluded by emphasizing the ongoing significance of their collaborative work, stating that the journey was far from over.
He expressed confidence that, with continued perseverance and unity, Ghana would move towards a more prosperous future.
In recognizing the challenges ahead, he urged both institutions not to lose focus on their vital role in shaping the present and future of the country.
