President Mahama: ‘We Are Committed to Stabilizing Ghana’s Economy for Sustainable Growth’
President Mahama outlines key measures to tackle Ghana's economic challenges at the Africa Business Forum
- Mahama focuses on reducing inflation, interest rates, and stabilizing the cedi to tackle Ghana's economic challenges
- The President highlights the need for stronger fiscal responsibility and anti-corruption measures
- Mahama stresses the importance of implementing a comprehensive debt management plan
President John Dramani Mahama has reaffirmed his government’s dedication to stabilizing Ghana’s economy as the cornerstone for long-term prosperity.
Speaking at the Africa Business Forum 2025 in Addis Ababa on Monday, February 17, Mahama outlined key strategies to tackle pressing economic challenges, including the depreciation of the cedi, high inflation, soaring interest rates, and rising debt.
The forum, organized by the United Nations Economic Commission for Africa, focused on the theme: “Moving from Potential to Prosperity: Activating Africa’s Regional Value Chain.”
Mahama stressed the importance of addressing the root causes of Ghana’s economic crisis while introducing decisive actions, including a robust debt management plan.
He explained, “In a crisis, the first thing that you do is to focus on stabilizing, and that is what we are focused on—bringing interest rates and inflation down, stabilizing the currency, and dealing with debt overhang.”
The President also emphasized the need to prevent future crises by addressing the factors that contributed to the current economic challenges.
“We must analyze the factors that brought Ghana to this point and take steps to ensure we do not end up in this situation again. Strengthening the Fiscal Responsibility Act and the Public Financial Management Act is vital,” Mahama stated.
He also highlighted the importance of eliminating waste and reducing corruption as essential steps to ensure long-term fiscal health.
