About 22 laws introduced to lock in reforms and protect Ghana’s economic gains – Ato Forson

Finance Minister Dr. Cassiel Ato Forson has introduced approximately 22 laws over the past 18 months to solidify Ghana's economic reforms and safeguard the nation's hard-won stability. This move aims to prevent future governments from undoing the progress made, thereby averting a return to the hardships experienced during the 2022–2024 economic crisis.

Addressing concerns about institutionalizing the government's policies during a New Economy engagement at the University of Ghana, Dr. Forson explained the legislative process involved in this endeavor.

Responding to Prof. Fred Dzanku, Head of the Economics Division at the university's Institute of Statistical, Social and Economic Research (ISSER), Dr. Forson revealed that he had introduced these laws to ensure the reforms endure beyond the current administration's term. To achieve this, he emphasized the introduction of legislation, repeal of existing laws, and amendments to protect the reforms from reversal.

The Minister further elaborated on the need to require a two-thirds majority in Parliament to alter certain laws, thereby making it more challenging for future administrations to reverse the progress.

Dr. Forson, drawing from his extensive experience in Parliament and policymaking, underscored the importance of transforming reform commitments into legal requirements. He highlighted the ongoing amendments to the Public Financial Management (PFM) Act as an example of their efforts to institutionalize these changes. By embedding these reforms in law, the government seeks to secure the nation's economic stability against potential future reversals.