President John Dramani Mahama has reiterated his government’s commitment to stabilizing Ghana’s economy as the 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 Chain.”
Mahama stressed the need to analyze the root causes of Ghana’s economic crisis while implementing decisive measures, including a comprehensive debt management plan.
“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. That is where our focus is for now,” he stated.
He further emphasized the importance of addressing the underlying causes to prevent a recurrence.
“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 assured.
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