President Mahama Reaffirms Commitment to Stabilizing Ghana’s Economy

President John Dramani Mahama has reiterated his administration’s dedication to stabilizing Ghana’s economy, emphasizing that economic stability is key to achieving long-term, sustainable development.

Speaking at the Africa Business Forum 2025 on Monday, February 17, in Addis Ababa, Ethiopia, Mahama highlighted his government’s strategic plans to tackle pressing economic issues such as the depreciation of the cedi, rising inflation, high interest rates, and mounting national debt.

The forum, organized by the United Nations Economic Commission for Africa (UNECA), was held under the theme: “Moving from Potential to Prosperity: Activating Africa’s Regional Value Chain.”

Addressing participants, Mahama stressed the urgent need to stabilize the economy as a first step in overcoming the crisis.

“In times of crisis, the priority is stabilization — bringing down interest rates and inflation, steadying the currency, and addressing the debt overhang. That is where our immediate focus lies,” he said.

He also underscored the importance of tackling the root causes of Ghana’s current economic challenges to prevent future setbacks.

“While we work to stabilize the economy, we must also confront the factors that led us here. Strengthening the Fiscal Responsibility Act and the Public Financial Management Act will be crucial. Additionally, cutting waste and curbing corruption are essential steps we must take,” Mahama added.

The President’s remarks reflect his administration’s broader agenda of fostering financial discipline and reinforcing structural reforms to build a resilient economy.