The Minister for Finance, Dr. Cassiel Ato Forson, has called on traders to drastically reduce the prices of goods and services in response to the recent stability of the cedi.
According to him, the macroeconomic gains, especially the appreciation of the local currency against major foreign currencies, must now be reflected in Ghanaians’ daily lives.
“I emphasized to FABAG that food prices, which had been unreasonably high, must start to fall drastically. Encouragingly, they confirmed that some reductions are already happening. But we need more,” Dr. Forson stated.
He made the call in a social media post on Thursday, May 8, following a meeting with the Food and Beverage Association of Ghana (FABAG).
“Our focus at the Ministry of Finance is clear: we are moving beyond just achieving strong macroeconomic indicators. It is now time for these gains to translate into real, tangible relief for our people, especially at the micro level,” he added.
Dr. Ato Forson also urged other trader groups, including the Ghana Union of Traders Association (GUTA), to emulate FABAG and pass the benefits of the stable currency on to consumers.
The Finance Minister insisted that the cedi’s current performance is not temporary or a result of external factors as suggested but the result of prudent, homegrown economic management.
“…the recent appreciation of the cedi and the stability we are witnessing in the economy is not a temporary or knee-jerk reaction.
“It is the result of deliberate, well-thought-out planning and prudent economic management. This stability is here to stay,” he assured.
