President John Mahama has reaffirmed Ghana’s commitment to responsible debt management and inclusive economic growth, emphasising the country’s ongoing efforts to enhance fiscal stability and create a prosperous future for all Ghanaians.
Speaking at an African Union Conference on Debt in Lomé, Togo, President Mahama emphasised the importance of a united African front in addressing debt challenges and advocating for fair global financial solutions.
President Mahama stated, “Ghana, under my leadership, is committed to and already rolling out policies to rebuild its fiscal buffers, strengthen institutions, and promote inclusive growth.”
He acknowledged the potential impact of fiscal adjustments on social protection programs, underscoring his government’s commitment to a transformation agenda that prioritises long-term economic stability and intergenerational progress.
“In Ghana, we are prioritising value-added agriculture, renewable energy, and digital infrastructure—all sectors that yield multiplier effects in jobs, exports, and innovation,” President Mahama explained.
He outlined the key pillars of Ghana’s ‘Reset Agenda,’ designed to achieve sustainable and inclusive development.
They include; protecting investments in education, youth empowerment, and rural development; ensuring that all Ghanaians have the opportunity to participate in and benefit from the nation’s economic progress; enhancing debt transparency through the establishment of an independent fiscal council.
Also, promoting accountability and informed decision-making in public finance management; expanding the role of the Ghana Infrastructure Investment Fund to attract private capital; and facilitating strategic investments in critical infrastructure to drive economic growth and create jobs.
President Mahama commended the African Union Commission for organising the High-Level Conference. He recognised the conference’s theme, “Africa’s Public Debt Management Agenda in Restoring and Safeguarding Debt Sustainability,” as a critical call to action.
“This is not just a technical theme; it is a call to confront one of the most defining challenges of our generation,” he stated.
Looking ahead to the 2025 G20 Summit, President Mahama urged African nations to forge a common position advocating for timely, fair, and transparent debt restructuring frameworks.
He emphasised the necessity of standardised debt transparency benchmarks across the African Union and fostering greater accountability and comparability in debt management practices.
Mr. Mahama also called for the full operationalisation of the African Monetary Institute and the Pan African Payment and Settlement System (PAPSS), reducing reliance on foreign exchange, promoting regional trade, and strengthening financial integration across the continent.
