President John Dramani Mahama has said Ghana’s recent economic rebound has progressed much faster than anticipated, describing the turnaround as surprising even to his own administration.
The President made the remarks on Sunday, January 25, while speaking at a Thanksgiving Service organized by the First Sky Group in the Northern Region. According to him, the pace of recovery since his government assumed office has surpassed initial projections and earned positive attention from international financial institutions.
President Mahama explained that when his administration took over amid severe economic difficulties, he expected it would take at least two years before tangible improvements would be felt.
Economic Indicators Highlighted:
Citing key macroeconomic data, the President pointed to a significant reduction in inflation and the strong performance of the Ghanaian cedi as clear signs of recovery. He noted that inflation had dropped sharply within a year, while the local currency recorded an unusual appreciation over the same period.
He revealed that officials from the International Monetary Fund (IMF) and the World Bank have expressed surprise at the speed and scale of Ghana’s progress, with the country now being referenced as a positive example of economic reform.
Faith, Policy, and Discipline:
President Mahama attributed the gains to a combination of government policy measures, fiscal discipline, and divine grace. Reflecting on his previous experience in office, he said the depth of the crisis initially made a swift recovery seem unlikely.
“We are all surprised by how quickly things have turned around,” he said. “When you reduce inflation from over 23 percent to about 5 percent in just one year, and see the cedi appreciate by more than 30 percent, it is remarkable.”
Broader Context:
Ghana’s economy has faced years of pressure from high inflation, currency depreciation, and debt challenges. The President’s comments suggest renewed confidence in the country’s economic direction and signal optimism about sustaining the current momentum.
President Mahama encouraged Ghanaians to remain discipline and hopeful, stressing that continued stability and growth would depend on collective effort, sound management, and consistency in policy implementation.
Source: Africa Publicity
