President John Dramani Mahama has announced that his administration has implemented targeted policy initiatives that have successfully stabilised Ghana’s currency and enhanced the country’s overall economic performance.
In his 2026 State of the Nation Address to Parliament on February 27, President Mahama emphasised that his government prioritised currency stability upon taking office, noting that the outcomes are already apparent.
He explained that the goal was not to artificially manipulate foreign exchange rates but to strengthen the cedi’s competitiveness in the global market.
According to the President, the cedi has achieved notable gains against major international currencies, with a 40.7% appreciation against the US dollar, 30.9% against the British pound, and 24% against the euro.
“We made currency stability a priority, and we have delivered. We did not arrest the dollar; we strengthened the cedi to put up a good fight against other currencies,” he told parliament.
The gains made, he noted, form part of a broader economic recovery programme that has positively impacted multiple sectors of the economy within his administration’s first year in office.
He added that Ghana’s economic growth has reached a historic milestone, revealing that the country’s economy has, for the first time, surpassed the 100-billion-dollar mark.
In his view, the achievements position Ghana among Africa’s largest economies, with projections suggesting continued expansion driven by ongoing reforms and stabilisation efforts.
He assured Ghanaians that his government remains committed to sustaining macroeconomic stability, promoting growth, and improving living conditions for Ghanaians as the country continues what he described as a renewed path of progress and development.
President John Dramani Mahama announced that his administration has reduced government borrowing and enforced stricter fiscal discipline, with total public debt standing at GH¢684.6 billion, representing 48.9% of GDP, following substantial debt stock reduction attributed to fiscal reforms and stringent borrowing measures.
