President John Dramani Mahama on Tuesday attributed the recent resurgence of the local cedi currency to robust foreign exchange inflows and targeted policy interventions designed to stabilize the economy.
Addressing the Ghana-EU Business Forum in Accra, President Mahama underscored the current administration’s commitment to achieving its economic growth objectives for the year.
The forum, aptly themed “Deepening Ghana-EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy,” convened a gathering of esteemed stakeholders from Ghana and the European Union.
According to Mahama, the local currency’s strengthened position is substantially bolstered by the country’s augmented gross international reserves, which have burgeoned from $8.9 billion in December 2024 to an impressive $10.6 billion by April 2025.
“This upward trajectory reflects burgeoning investor confidence and enhanced external financial buffers, signaling a promising economic outlook,” he observed.
President Mahama further accentuated the government’s dedication to fiscal prudence, stating,
“We have successfully reduced the fiscal deficit on a commitment basis from 7.5% of GDP in 2024 to 6.4% in the first half of 2025, and we are poised to meet our 2025 end-year target of 3.1% through judicious expenditure rationalization, enhanced domestic revenue mobilization, and stringent anti-corruption measures.”
He reassured both domestic and international investors of his administration’s commitment to cultivating a secure and conducive investment environment.
“I assure all potential investors that under this administration, Ghana is resolutely committed to transparent governance, policy predictability, and a reformed business landscape,” he declared.
“We are restoring faith in our public procurement systems, upholding contract sanctity, and safeguarding investor rights under both domestic and international legal frameworks.”