Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has emphasized the need for a comprehensive legislative framework on economic rent to ensure the country’s natural resource wealth benefits all citizens. This call to action follows a recent meeting with the World Bank Vice President, where they discussed crucial economic matters.
Dr. Forson stressed that Ghana’s natural resources can be a blessing or a curse, depending on management. He aims to create a system promoting fairness, accountability, and national interest, where everyone benefits from natural resources, not just those in power.
The World Bank will collaborate with Ghana to develop a robust legislative framework, focusing on transparency, accountability, and fairness in revenue distribution. This partnership is crucial in supporting Ghana’s economic development and achieving sustainable growth, job creation, and poverty reduction.
As outlined in the 2025 Budget, Ghana’s economic vision prioritizes harnessing natural resources effectively to unlock new opportunities for economic development and improve citizens’ lives. The Ministry of Finance and relevant agencies, such as the Natural Resources, Environment and Climate Change Unit, will work together to achieve this goal.
By promoting sustainable natural resource management, Ghana can avoid the pitfalls of mismanagement, which has led to inequality and poverty in the past. Dr. Forson’s commitment to this cause is expected to drive meaningful change in the country’s economic landscape.
Ruth Abla ADJORLOLO
