President John Dramani Mahama has underscored the importance of cutting out waste and tackling corruption as key components of his government’s strategy to stabilise Ghana’s economy and promote sustainable development.
Speaking at the Africa Business Forum 2025 in Addis Ababa, Ethiopia, on Monday, February 17, Mr Mahama highlighted his administration’s commitment to addressing the country’s economic challenges, including inflation, the depreciating cedi, rising interest rates, and the mounting debt burden.
Organised by the United Nations Economic Commission for Africa, the forum focused on the theme: “Moving from Potential to Prosperity: Activating Africa’s Regional Value Chain.”
In his address, Mr Mahama emphasised that beyond short-term stabilisation efforts, long-term solutions must include a focus on fiscal discipline and transparency.
“In a crisis, the first thing that you do is to focus on stabilising, and that is what we are focused on—bringing interest rates and inflation down, stabilising the currency, and dealing with debt overhang. That is where our focus is for now,” he said.
“At the same time, we must analyse the factors that brought Ghana to this point and implement steps to ensure we do not end up in this situation again. That will entail strengthening the Fiscal Responsibility Act and the Public Financial Management Act,” Mr Mahama added.
He mentioned the “need to cut out waste and reduce corruption” as “some of the critical issues that must be addressed.”
