Dr Joshua Zaato, a political Science lecturer at the University of Ghana, has said the current finance minister, Dr Cassiel Ato Forson real test will begin in the third and fourth years.
According to Dr Zaato, every finance minister in their first and second year is able to manage their books well.
Dr Zaato noted that the real test begins in the third and fourth years, whether Ato Forson can maintain his discipline.
He quizzed whether Ato Forson can defy his own government and political party during the election year when the campaign begins.
Speaking on TV3’s The Key Points programme on Saturday, August 2, 2025, Dr Joshua Zaato stated, “Every finance minister who comes in runs a very good first year; they all do, they are able to get their books in order, and they are able to do well in the first year. In fact, sometimes they even run a very good second year.
The problems begin, or the real test of a finance minister begins in the third and fourth year, when campaigns are beginning. Can a finance minister defy his own president or his own government in those years to still keep the discipline Joe Jackson was talking about?”
He added, “Can the Finance Minister refuse to spend or refuse to spend a lot of money on projects when he knows that it is not good? I think that is the real test”.
Dr Joshua Zaato, however, attributed the recent stabilisation of the cedi to the achievements of the governing National Democratic Congress (NDC).
He asserted that, irrespective of the fundamental reasons contributing to the strengthening of the cedi, it is happening under the NDC, and the party must take credit for it.
“Whether it is luck or not, the appreciation is happening under the NDC; they can take credit for that.”
However, Prof Ransford Gyampo, the Chief Executive Officer (CEO) of the Ghana Shippers’ Authority (GSA), has said Ato Forson needs to be encouraged.
He observed that when things go well in the country, every Ghanaian will benefit from it.
According to him, he asked Ato Forson how he is managing the Ghanaian economy, and he revealed he is disciplined, not greedy and has the support of President Mahama.
Prof Ransford Gyampo also on TV3’s The Key Points programme stated, “Now that things are also good, or things are improving, we are told nothing is being done, and it is not reflective of anything. I live it to the Ghanaian because at the end of the day, it is not about propaganda or gaslighting, it is about what the Ghanaian feel.
I ask myself if things improve, who benefits? Is it NPP or NDC? Is it Ghanaians who benefit? We all stand to gain, and so my view is that rather than sounding cynical, rather than being pessimistic, the best thing to do as a people pat those who are doing it on the shoulder and to encourage them that continue”.
He added, “When there are gains, we all stand to gain. I went to Ato Forson, and I asked how are you doing this, He said Prof, I am disciplined, I am not greedy, and I have the support of the president this are the three things.
I went to the President, too, and he said Ransford, I know you will deliver, so keep on. My view is that rather than sounding pessimistic, let us rather encourage so that things are done in a manner that will translate into tangible developmental outcomes”.
Meanwhile, Dr Cassiel Ato Forson has said he firmly believes Ghana will end 2025 with single-digit inflation.
Ato Forson revealed the country is well ahead of the government’s official projection.
Speaking in an interview on JOY NEWS Thursday, July 24, Ato Forson detailed, “I am of the firm belief that by the end of the year, we will be entering single digits, for a reason”.
“Based on the trajectory, we are now at 13.7%. The Producer Price Inflation, for example, moved from 10-point-something to 5.9% last month. And based on that, I expect that next month inflation will go down, and if it does, then I believe that by the end of December, we should be able to achieve that”.
“As I have said, even though I still maintain the target of 11.9%, I said again in the speech, we’ll be achieving our target ahead of schedule,” he added.
In related news on the Ghanaian economy, the Bank of Ghana decreased its benchmark policy rate by 300 basis points, from 28% to 25%.
Dr Johnson Asiama, the Governor of the Bank of Ghana, revealed the cut was due to improved macroeconomic conditions, easing inflation, and appreciation of the cedi.
Watch the video below:
It’s not about gaslighting or propaganda, it’s about how the ordinary people feel – Prof. Gyampo fires 🔥 Dr. Zaato pic.twitter.com/pAABIa8ks9
— Aristotlektv (@aristotledada) August 2, 2025