President John Dramani Mahama says Ghana’s recent gains in macroeconomic stability indicate that the country is firmly back on the path to economic recovery.
He pointed out the stabilised cedi, declining inflation, and rising investor confidence, which provide clear evidence that the country is heading towards.
Speaking at the Cedi@60 International Currency Conference at the Accra International Conference Centre (AICC), the President outlined key developments that he believed reflect Ghana’s improving fundamentals and a clear path toward full economic recovery.
According to him, the first major achievement is macroeconomic stabilisation, driven by “disciplined fiscal consolidation, increased domestic revenue mobilization, prudent expenditure rationalization, and better coordination between fiscal and monetary authorities.”
“These actions have restored balance and reduced uncertainty,” President Mahama stated. “Inflation has continued to decline, and expectations are more firmly anchored today.”
Mr. also pointed to the strengthening of the cedi, stating that improved forex liquidity management, enhanced reserve buffers, and ongoing regulatory reforms have contributed significantly to exchange rate stability.
This, he stressed, is crucial for “business planning, investment decisions, and public confidence.”
The President added that business sentiment, consumer surveys, and investment outlook reports all point to a steady economic recovery, with Ghana’s development partners and financial markets acknowledging the progress.
“These efforts have culminated in a significant sign of credibility,” he said, referencing Ghana’s recent sovereign rating upgrade by S&P from CCC+/C to B-/B with a stable outlook on November 7, 2025. That is why I give credit to our Finance Ministry and the Bank of Ghana.”
Mahama described the upgrade as strong validation of Ghana’s improving fundamentals.
“This is an affirmation that our fundamentals are strengthening and that we are on a clear path of recovery,” he emphasized.
He added that these gains “must be protected, consolidated, and expanded through policy discipline and institutional coherence.”
The President also underscored the importance of an independent central bank in sustaining economic stability, warning that monetary policy credibility cannot be compromised.
“A core principle of effective economic management is an independent, credible, and professionally insulated central bank,” he said.
He noted that a strong and autonomous Bank of Ghana is essential for anchoring inflation expectations, maintaining exchange rate stability, building investor confidence, and ensuring long-term policy credibility.
“This is not a matter of personal preference, It is an economic necessity.” he stressed.
President Mahama called on stakeholders to remain committed to policy discipline, institutional integrity, and collaborative economic management as Ghana continues its recovery trajectory.
