News:
March 16, 2026
A former director at the Ministry of Finance, Eva Mends, has urged the government to prioritize strict fiscal discipline to safeguard Ghana’s hard-won macroeconomic stability.
Speaking at a workshop for the Parliamentary Press Corps in Koforidua, Mends cautioned against increasing public expenditure without a thorough assessment of the broader economic consequences. She warned that excessive spending could trigger inflation, drive up interest rates, and ultimately destabilize the economy.
“When the cedi gains strength, everybody is happy. When inflation falls, everybody is happy,” Mends said. “But you cannot at the same time ask for increased expenditure.”
Her comments come at a time of heightened debate over government spending, with various sectors lobbying for more resources. Mends emphasized that while these demands are legitimate, they must be balanced against the country’s overall economic framework.
She stressed the critical role of the Finance Minister in enforcing fiscal discipline, noting that the position requires the authority—backed by the President to control expenditure, even when Parliament pushes for more funding.
“There is nothing wrong with Members of Parliament asking for more funds to improve sectors such as education,” she explained. “However, the Finance Minister must ultimately control expenditure with the backing of the President.”
Mends also highlighted the unique difficulties of managing public finances in a developing country like Ghana, where competing development priorities often clash with limited resources. She encouraged journalists covering financial and parliamentary affairs to deepen their understanding of these complexities to report more accurately on public financial management.
The workshop, aimed at strengthening the capacity of the Parliamentary Press Corps, equipped participants with skills to analyze fiscal data, understand budget frameworks, and improve public reporting on government spending. The event was sponsored by the World Bank and the Foreign, Commonwealth & Development Office (FCDO).
Kwaku Sakyi-Danso/Ghanamps.com