The government's commitment to stabilizing Ghana's economy as the cornerstone of sustainable growth has been reaffirmed by President John Dramani Mahama.
On Monday, February 17, in Addis Ababa, Ethiopia, Mahama gave a speech at the Africa Business Forum 2025, outlining strategic measures to tackle major economic issues such as depreciating cedis, rising inflation, skyrocketing interest rates, and mounting debt.
"Moving from Potential to Prosperity: Activating Africa's Regional Value Chain" was the topic of the event, which was hosted by the United Nations Economic Commission for Africa.
Mahama emphasized the importance of examining the underlying reasons for Ghana's economic problems and taking prompt action, such as putting in place a thorough debt management strategy.
"The first thing you do in a crisis is to concentrate on stabilizing, and that's what we're doing—lowering inflation and interest rates, stabilizing the currency, and addressing the debt overhang. For now, that's where we're concentrating," he said.
He also underlined how crucial it is to deal with the root issues in order to stop a recurrence.
Simultaneously, we need to examine the causes that led Ghana to this predicament and take action to make sure it doesn't happen again. To do that, the Public Financial Management Act and the Fiscal Responsibility Act must be strengthened.
"We must eliminate waste and lessen corruption. He promised, "These are some of the important issues that need to be addressed."
source: www.adomonline.com