We Just Escaped An Era Where Borrowing Solved Every Problem — Dr Steve Manteaw

Policy analyst and economist Dr Steve Manteaw has commended what he considers a shift away from excessive reliance on borrowing to address Ghana’s economic challenges. He has stressed the importance of prudence and financial discipline in managing the country’s economy.

In a post shared on his official Facebook page on November 15, 2026, Dr Manteaw reflected on Ghana’s previous approach to economic management, arguing that borrowing had become the preferred response to almost every economic problem. According to him, financial prudence was not given the attention it deserved during that period.

He stated that the country had just escaped from a situation in which borrowing was treated as the solution to virtually every economic difficulty. He further suggested that the previous approach did not place sufficient emphasis on responsible financial management.

His comments come amid growing public discussions and praise for Finance Minister Dr Cassiel Ato Forson over what some Ghanaians consider prudent management of the economy. Several people have commended the minister for his approach to economic management and efforts to improve the country’s financial position.

However, not everyone shares the view that Dr Ato Forson’s performance represents something particularly exceptional. Some commentators have argued that former Finance Minister Ken Ofori-Atta also recorded remarkable achievements during his first two years in office and received considerable praise at the time.

Those holding this position believe that the positive assessments currently being given to Dr Ato Forson should be considered against the background of how previous finance ministers were also celebrated during the early stages of their tenures. They therefore question whether the current praise reflects exceptional performance or a pattern of early public approval for finance ministers.

Nevertheless, Dr Manteaw’s remarks have added to the ongoing debate about fiscal discipline, borrowing and the standards by which finance ministers should be assessed. His central argument is that prudent economic management should take priority over excessive borrowing as a response to the country’s financial challenges.

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