Mahama on Stabilising Ghana’s Economy

President John Dramani Mahama has reaffirmed his administration’s commitment to stabilizing Ghana’s economy as a foundation for sustainable development. Speaking at the Africa Business Forum 2025 on Monday, February 17, in Addis Ababa, Ethiopia, Mahama outlined strategic efforts to address key economic challenges, including cedi depreciation, high inflation, soaring interest rates, and a growing debt burden

The forum, organized by the United Nations Economic Commission for Africa, was themed: “Moving from Potential to Prosperity: Activating Africa’s Regional Value Chai

Mahama emphasized the need to analyze the root causes of Ghana’s economic crisis while implementing decisive measures, including a comprehensive debt management plan. He stated, “In a crisis, the first thing you do is focus on stabilizing, and that is what we are focused on—bringing interest rates and inflation down, stabilizing the currency, and dealing with the debt overhang.”

He further stressed the importance of addressing underlying issues to prevent recurrence, highlighting the need to strengthen the Fiscal Responsibility Act and the Public Financial Management Act. Mahama also called for reducing waste and curbing corruption as critical steps toward economic stability.

In addition to these measures, President Mahama has proposed the launch of a “24-hour economy” to boost employment and unlock industrial potential. This initiative aims to encourage businesses and public organizations to operate around the clock, thereby increasing productivity and generating well-paying jobs.

Ghanaians are closely monitoring the government’s actions, hopeful that these initiatives will lead to tangible improvements in their daily lives and the nation’s economic trajectory.