Mahama Nominates Thomas Nyarko Ampem as Deputy Finance Minister-GHANA
In a significant move to strengthen the country’s economic management, President John Dramani Mahama has nominated Thomas Nyarko Ampem, the Member of Parliament for Asuogyaman, as Deputy Minister-Designate for Finance. Nyarko Ampem’s appointment comes at a time when Ghana is facing major economic challenges, including high inflation, a mounting debt burden, and structural fiscal constraints.
If confirmed by parliament, Nyarko Ampem will work alongside Finance Minister Dr. Cassiel Ato Forson. The duo is expected to focus on the government’s economic recovery agenda, which is vital for stabilizing Ghana’s economy amid difficult global and domestic conditions. The country is currently under the $3 billion International Monetary Fund (IMF) Extended Credit Facility program, which aims to address these fiscal challenges.
One of Nyarko Ampem’s key responsibilities will be supporting the government’s efforts to stabilize the foreign exchange market, which has been volatile in recent months. The Mahama administration has also outlined plans to enhance revenue mobilization and implement various economic policies to stabilize the national economy, including the flagship 24-hour economy initiative aimed at boosting productivity and job creation.
Nyarko Ampem’s role will be critical in restoring investor confidence in the country’s financial system, as well as ensuring fiscal discipline. His efforts will also align with the administration’s focus on achieving a balance between maintaining debt sustainability and promoting growth-oriented policies that can lead to long-term economic recovery.
As public expectations rise for the government to manage Ghana’s economic difficulties, the Finance Ministry is faced with the complex task of addressing immediate fiscal challenges while working toward sustainable growth. The success of these efforts will largely depend on Nyarko Ampem’s ability to effectively contribute to the economic recovery plan.
Source: CITI NEWSROOM