Cedi@60: Let us avoid reckless borrowing to protect future generations – Vice President

The Vice President, Prof. Naana Jane Opoku-Agyemang, has cautioned against excessive borrowing, warning that reckless debt accumulation could jeopardise the nation’s economic future and impose an undue burden on generations yet to come.

Speaking at the launch of the Bank of Ghana’s 60th anniversary of the Cedi in Accra, the Vice President stressed the need for prudent financial management and sustainable economic planning.

She noted that while borrowing can be an important tool for development, it must be done responsibly and channelled into projects that yield tangible benefits for the Ghanaian people.

“Government must lead by example and commit to real fiscal discipline, no more reckless borrowing or surging deficits that pass today’s problems to tomorrow’s generations.”

Adding that “We must anchor public finances in realistic revenue plans, efficient funding and long-term planning. Let every loan be tied to a return and every cedi spent to a corresponding value.”

Prof. Opoku-Agyemang also joined calls against the use of foreign currencies in domestic trade, urging Ghanaians to demonstrate confidence in the national currency.

She emphasised that supporting the cedi (₵) is both an economic and patriotic duty that strengthens national sovereignty.

“We must uphold the legal tender status of the cedi, today too many goods and services are still quoted in foreign currencies but if you earn in cedis, you must be able to transact in cedis,” he said.

She reiterated government’s commitment to safeguarding macroeconomic stability, promoting fiscal discipline, and building a resilient economy anchored on sustainable growth and financial independence.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.