The Minister for Finance, Dr Cassiel Ato Forson, has revealed that government has saved approximately GH¢1 billion following a recent reduction in Treasury bill (T-bill) rates.
He made the announcement during the opening session of the National Economic Dialogue on Monday, March 3, emphasising the significance of this financial relief in supporting the nation’s economic recovery.
Dr Forson explained that the savings generated from the lower T-bill rates would be redirected towards critical sectors of the economy to enhance development.
“The recent reduction in T-bills alone is saving Ghana about one billion Ghana Cedis, and that money can be channeled to critical areas of the economy,” he stated.
He stressed that this move was essential in ensuring prudent fiscal management and reducing the cost of borrowing for the government.
According to the Finance Minister, the government remains committed to implementing measures that will promote economic stability and sustainable growth.
He highlighted the need for continuous fiscal discipline, adding that lower borrowing costs would help ease the financial burden on the state and free up resources for productive investments.
Dr Forson urged stakeholders to support ongoing economic reforms aimed at restoring macroeconomic stability.
He noted that while the reduction in T-bill rates was a step in the right direction, further policy interventions would be necessary to strengthen Ghana’s financial position.
Dr Ato Forson stressed the need for prudent economic management and structural reforms to prevent a relapse into instability.
He highlighted concerns such as inflation, currency volatility, and fiscal constraints, which continue to pose risks to Ghana’s economic recovery.
“While we have taken steps towards stabilising the economy, we must be clear that our crisis is not over. We still have difficult decisions to make to ensure long-term stability,” he stated.
He further noted that the dialogue serves as a crucial platform for stakeholders to reflect on past economic missteps and propose practical solutions.
According to him, addressing Ghana’s economic challenges requires collective action, discipline, and a commitment to sound financial policies.
“This forum gives us the opportunity to reflect on where we have come from, assess where we stand, and determine the best path forward,” he added.
Dr Ato Forson assured that the government remains committed to implementing policies that promote economic resilience and sustainable growth.
He urged all participants to contribute meaningfully to the discussions, stressing that the outcome of the dialogue would be instrumental in shaping Ghana’s economic future.
