IMANI Africa leader Franklin Cudjoe has criticized the previous New Patriotic Party government for inadequate oversight of public expenditure while praising the current administration's tighter financial controls under Finance Minister Cassiel Ato Forson. Cudjoe described previous practices as lacking proper accountability mechanisms and recounted witnessing automatic contract mobilization processes at the Ghana Education Trust Fund that have since been reformed.
The policy analyst highlighted a conversation with Forson confirming the end of unverified fund disbursements and commended rapid debt reduction efforts. Public debt figures fell from 726.7 billion cedis at 61.8 percent of GDP to 630.2 billion cedis representing 45 percent of GDP, according to budget statement data. Forson credited disciplined borrowing policies and currency strength for the improvement.
The policy analyst highlighted a conversation with Forson confirming the end of unverified fund disbursements and commended rapid debt reduction efforts. Public debt figures fell from 726.7 billion cedis at 61.8 percent of GDP to 630.2 billion cedis representing 45 percent of GDP, according to budget statement data. Forson credited disciplined borrowing policies and currency strength for the improvement.
