President John Dramani Mahama has reaffirmed his government’s commitment to prioritise stabilizing Ghana’s economy for sustainable development.
Speaking at the Africa Business Forum 2025 currently ongoing in Addis Ababa, Ethiopia, he outlined efforts to tackle the depreciation of the cedi, reduce inflation, lower interest rates, and manage Ghana’s growing 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.
During the discussions, he also stressed the importance of understanding the underlying factors that led to Ghana’s economic crisis and shared key measures his government is taking, including a comprehensive debt management plan.
“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. That is where our focus is for now.
“At the same time, we must analyze the factors that brought Ghana to this place and put in the steps that ensure we do not end up in this situation again.
“That will entail strengthening the Fiscal Responsibility Act and the Public Financial Management Act. We need to cut out waste and reduce corruption—those are all things that have to be dealt with,” he stated.
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