Mahama Reaffirms Commitment to Economic Stabilization at Africa Business Forum
Addis Ababa, Ethiopia – February 17, 2025
President John Dramani Mahama has reaffirmed his government’s commitment to stabilizing Ghana’s economy, emphasizing it as a foundation for long-term sustainable development.
Speaking at the Africa Business Forum 2025 in Addis Ababa, Ethiopia, Mahama outlined key measures to tackle Ghana’s economic challenges, including:
- Cedi depreciation
- High inflation
- Soaring interest rates
- Growing debt burden
The forum, organized by the United Nations Economic Commission for Africa (UNECA), focused on the theme:
“Moving from Potential to Prosperity: Activating Africa’s Regional Value Chain.”
Key Economic Strategies
President Mahama stressed that his government’s immediate priority is to restore economic stability through debt management, currency stabilization, and fiscal reforms.
“In a crisis, the first thing that you do is to focus on stabilizing, and that is what we are focused on—bringing interest rates and inflation down, stabilizing the currency, and dealing with debt overhang. That is where our focus is for now,” he stated.
Additionally, he called for an in-depth analysis of the root causes of Ghana’s economic challenges to prevent future crises.
“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.”
To achieve this, Mahama emphasized:
- Strengthening the Fiscal Responsibility Act
- Enhancing the Public Financial Management Act
- Cutting wasteful expenditure
- Reducing corruption
“These are some of the critical issues that must be addressed,” he assured.
As Ghana navigates its economic recovery, Mahama’s government remains focused on fiscal discipline and policy reforms to ensure long-term stability.
