President John Dramani Mahama has reiterated his unwavering commitment to stabilizing Ghana’s economy as a foundation for sustainable development.
Speaking at a panel discussion during the Africa Business Forum 2025, held in Addis Ababa, Ethiopia, President Mahama emphasized that economic stabilization is the first step in addressing crises such as cedi depreciation, high interest rates, rising inflation, and unsustainable national debt.
The event, organized by the United Nations Economic Commission for Africa (UNECA), was themed:
“Moving from Potential to Prosperity: Activating Africa’s Regional Value Chain.”
President Mahama highlighted the importance of analyzing the root causes of Ghana’s economic crisis to implement lasting solutions. He stressed the need to strengthen fiscal responsibility laws and public financial regulations to prevent future economic downturns.
“We must ensure that no Finance Minister is ever allowed to borrow over $11 billion in just five years, only to channel it into consumption. This must be a thing of the past,” he stated.
Key Measures for Economic Stabilization
President Mahama outlined several strategies his government is implementing to restore stability and drive development, including:
Debt Management: Implementing sustainable policies to reduce Ghana’s debt burden. Regional Trade Partnerships: Strengthening trade ties with neighbouring countries such as Togo, Benin, Côte d’Ivoire, Nigeria, and Burkina Faso under the African Continental Free Trade Agreement (AfCFTA). Resource Consolidation: Leveraging natural resources across West Africa to enhance economic growth. Trade Corridors: Expanding and developing new regional trade corridors to facilitate commerce and industrialization.
President Mahama reaffirmed his administration’s commitment to ensuring economic stability and promoting policies that will foster regional cooperation, investment, and long-term prosperity for Ghana and Africa as a whole
Source: Classfmonline.com
