Banks have received assurances from Finance Minister Dr. Cassiel Ato Forson (MP) that the government is still dedicated to prudent economic management and will not replicate the financial turmoil that occurred in 2022.
He disclosed that the government has learnt from previous economic setbacks and is committed to putting policies in place that support stability and expansion, including for banks.
Speaking to more than 20 bank managing directors, Dr. Forson emphasized the significance of upholding fiscal restraint in order to aid in the nation’s economic recovery.
He stated that while the government wants to rebuild trust in the banking industry and the overall economy, careless financial actions will not be accepted.
The finance minister emphasized that in order to guarantee sustained growth and protect the financial system against future crises, a unified policy approach would be necessary.
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He requested that banks work together with the government to put policies into place that improve liquidity, stimulate investment, and fortify economic resilience.
“We are also taking deliberate steps to reduce our reliance on the Treasury bill market and strengthen policy coordination between fiscal and monetary authorities. Stability is our priority, and we will not return to the turbulence of 2022. We will not be reckless”, Dr. Ato Forson.
“Most importantly, we need each other. The banking sector is a crucial partner in our development agenda, and we want to work with you to build a resilient financial system that fuels economic transformation”.
“The government’s priority is to create a stable economic environment that benefits both financial institutions and the general public”, Dr. Ato Forson ended.
