“I’m Not a Policeman; I Can’t Say I’ve Arrested the Cedi” – Ato Forson

Finance Minister Dr. Cassiel Ato Forson has distanced himself from bold claims made by former Vice President Dr. Mahamudu Bawumia, notably the infamous assertion that he had once “arrested” the depreciating Ghanaian cedi.

Following the presentation of the 2025 Mid-Year Fiscal Policy Review to Parliament, Dr. Forson responded to comparisons with the previous administration’s rhetoric. Asked if he could now claim to have “arrested” the cedi due to its recent appreciation, he replied, “I can’t say I have arrested the cedi… I’m not a policeman.”

Instead, Dr. Forson credited Ghana’s improved fiscal discipline for the currency’s recent rebound, directly criticizing the former NPP government for what he called reckless spending and excessive central bank borrowing.

“They were printing money as if there was no tomorrow. That’s what drove inflation to 54% and drained our reserves,” he said. “We are disciplined. That’s the key difference.”

He also pushed back against Bawumia’s suggestion that the cedi’s strength was due to global trends, insisting domestic policies were the real driver.

Dr. Forson questioned Bawumia’s legacy, pointing out that as head of the Economic Management Team for eight years, the former Vice President failed to deliver the economic stability he now speaks of.

“If he could fix the economy, why didn’t he do it during his time? He had eight years,” Forson asked pointedly.

Despite being prompted to take credit for the cedi’s current performance, Forson remained measured. “We’re focused on maintaining the gains. That’s our priority — sustainability, not slogans,” he emphasized.