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In order to provide the groundwork for sustained development, President John Dramani Mahama has reaffirmed his government’s commitment to stabilizing Ghana’s economy.
Mahama described 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.
“Moving from Potential to Prosperity: Activating Africa’s Regional Value Chain” was the theme of the forum, which was hosted by the United Nations Economic Commission for Africa.
President Mahama emphasized at the talks the significance of examining the underlying reasons of Ghana’s economic issue and putting strong policies in place, such as a thorough debt management plan.
“In a crisis, the first thing that you do is to focus on stabilising, and that is what we are focused on—bringing interest rates and inflation down, stabilising the currency, and dealing with debt overhang. That is where our focus is for now,” President Mahama stated.
He also stressed how important it is to comprehend the causes of the crisis and take action to prevent it from happening again.
“At the same time, we must analyse 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 reaffirmed.
Source: Ghanatodayonline.com
