“Mahama Slays Inflation Beast: Cedi Holds Strong as Economy Rebounds!”

“Mahama Slays Inflation Beast: Cedi Holds Strong as Economy Rebounds!”

President John Dramani Mahama has declared that his government’s bold economic reset is yielding significant results, pointing to falling inflation, a stable cedi, and renewed investor confidence as proof that Ghana is “back on track.”

Speaking at his maiden Presidential Media Encounter in Accra on Tuesday, Mr. Mahama said inflation had dropped from 23.8 percent in December 2024 to 11.5 percent in August 2025, while the cedi has remained steady against major trading currencies for the past eight months.

“The difficult but necessary decisions we took — including abolishing nuisance taxes, rationalizing expenditure, and boosting local production — have begun to pay off,” the President said.

He added that Ghana recently earned an upgrade from international ratings agency Fitch, a development he described as “a vote of confidence” in the government’s fiscal management.

Mr. Mahama disclosed that his administration has also repaid a significant portion of Ghana’s Eurobond obligations, with the next tranche to be cleared before the close of the year.

“Unlike before, we are not borrowing recklessly. We are growing this economy with discipline,” he noted, stressing that his government will continue to channel resources into critical sectors such as agriculture, health, education, and infrastructure.

The President acknowledged the hardship Ghanaians faced during the initial months of his return to office but maintained that the sacrifices are laying a firm foundation for sustainable growth.

“Already, fuel prices have stabilized, utility tariffs have seen no hikes in the last quarter, and businesses are beginning to breathe,” he said.

Financial analysts have welcomed the positive signals but caution that the gains must be consolidated with strong fiscal discipline and aggressive export promotion.

The government is expected to roll out new measures under the 2026 Budget to deepen local production and reduce over-reliance on imports, a move Mr. Mahama believes will shield Ghana from external shocks.

“Ghana’s economy is back on the rails. This is the reset we promised the people, and we are delivering,” the President declared.