President John Dramani Mahama has defended his government’s handling of the economy, emphasising that deliberate policy choices have stabilised Ghana’s currency and strengthened overall performance. Presenting the 2026 State of the Nation Address in Parliament on Friday, February 27, he noted that currency stability was made a central priority from the outset of his administration, with results already visible. He stressed that the aim was not to artificially control foreign exchange but to empower the cedi to compete effectively on global markets.
“We made currency stability a priority, and we have delivered. We did not arrest the dollar; we strengthened the cedi to stand firm against other currencies,” he told lawmakers. Mahama revealed that the cedi had posted notable gains, appreciating by 40.7 percent against the US dollar, 30.9 percent against the British pound, and 24 percent against the euro.
He described the improvement as part of a broader economic recovery programme that has positively impacted multiple sectors of the economy within his administration’s first year in office. President Mahama further indicated 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.
He noted that the achievement positions Ghana among Africa’s largest economies, with projections suggesting continued expansion driven by ongoing reforms and stabilisation efforts.
The President maintained that the 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.
Source: Abigail Arthur
