As part of efforts to ensure a better country, President John Dramani Mahama has reaffirmed his government’s commitment to stabilizing Ghana’s economy.
Mahama highlighted strategic measures to tackle major economic issues, such as the depreciation of the cedi, rising inflation, skyrocketing interest rates, and the mounting debt load, during his remarks at the Africa Business Forum 2025 on Monday, February 17, in Addis Ababa, Ethiopia, under the theme “Moving from Potential to Prosperity: Activating Africa’s Regional Value Chain,” hosted by the United Nations Economic Commission for Africa.
“In a crisis, the first thing that you do is to focus on stabilizing the economy, 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,” he said.
“At the same time, we must analyze the factors that brought Ghana to this point and implement steps to 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. These are some of the critical issues that must be addressed,” he added.
