President John Dramani Mahama has declared that Ghana is firmly on a path of recovery, one year after his administration inherited what he described as a nation in deep economic and social distress.
Reflecting on the state of the country at the time his government assumed office, President Mahama said Ghana faced an economy “on its knees,” with unemployment weighing heavily on the youth, deteriorating infrastructure, eroded public trust, and a growing sense of despair among citizens.
“We were told that recovery would take a generation,” the President recalled. “But I knew something our critics did not. I knew the resilient spirit of the Ghanaian people.”
“At the dawn of the New Year, I stand before you to say, our beloved nation, Ghana, is rising again,” he declared.
According to the President, the past 12 months have been marked by prudent economic management and difficult but necessary reforms aimed at stabilising the economy and restoring confidence.
He revealed that inflation, which stood at distressing levels of 23 per cent and above at the end of 2024, has been significantly reduced. Government, he said, is hopeful of ending 2025 with inflation in single digits, slightly above five per cent.
President Mahama also pointed to relative currency stability, noting that Ghana is on track to be ranked among the world’s best-performing currencies in 2025—an achievement he attributed to disciplined fiscal and monetary coordination.
Beyond macroeconomic indicators, the President said his administration is accelerating economic growth and expanding opportunities for young people through targeted interventions across key sectors.
He added that business confidence has been restored, leading to a significant increase in both domestic and foreign direct investment.
“Our policies are working because investors believe once again in the Ghanaian economy,” he said.
On the international front, President Mahama announced that Ghana has regained credibility with its global partners, successfully completing the renegotiation of its debt obligations.
He stressed that the renegotiation was carried out on terms that protect Ghana’s sovereignty while ensuring long-term debt sustainability.
In addition, the President disclosed that Ghana has begun the process of exiting the International Monetary Fund (IMF) programme “with dignity,” emphasising that the country is engaging international partners not as supplicants but as partners.
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