There have been eight finance ministers under Ghana's 'fourth republic', Ken Ofori-Atta being the eighth and current occupant. Internationally, he is being judged for the public financial management strategy, in particular Ghana's sovereign debt position. But at home, in the debate around quality of economic stewardship, significant emphasis is placed on the cost of living. To encourage the populace, the president and his minister point out that we have been through hard times before. What the below graphs suggests is that while this is true: (a) it has been some time since they were so acute, (b) the pace of the current reversal is particularly dramatic.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
