Mahama Vows to Revive Ghana's Economy Amidst Inflation and Debt Crisis

Addis Ababa - 17 Feb, 2025 - Ghana's President John Dramani Mahama has pledged to to implement robust measures to stabilize the country's economy, which has been battered by a crippling inflation, currency depreciation, and debt load.

Speaking at the Africa Business Forum 2025 in Addis Ababa, Ethiopia, President Mahama emphasized the need for a comprehensive approach to address the economic crisis, including strengthening fiscal discipline and tackling corruption.

“In a crisis, the first thing that you do is to focus on stabilising, and that is what we are focused on—bringing interest rates and inflation down, stabilising the currency, and dealing with debt overhang. That is where our focus is for now,” he said.

“At the same time, we must analyse the factors that brought Ghana to this point and implement steps to ensure we do not end up in this situation again. That will entail strengthening the Fiscal Responsibility Act and the Public Financial Management Act.

“We need to cut out waste and reduce corruption. These are some of the critical issues that must be addressed,” he added.

Source: Lead News Online