President John Dramani Mahama has pledged to support the Bank of Ghana in implementing prudent monetary policies to curb inflation, stabilise the currency, and rebuild the country’s foreign reserves.
Speaking at the 2025 National Economic Dialogue held at the Accra International Conference Centre on Monday, the President emphasised that his administration is committed to responsible financial management.
The dialogue, themed “Resetting Ghana, Building the Economy We Want Together,” brought together government officials, policymakers, business leaders, economists, and development partners to chart a path for economic recovery.
He stated that his administration inherited an economy in a deep crisis, weighted down by unprecedented levels of debt, soaring inflation, high unemployment, declining foreign investment, and low business confidence.
According to the President, these financial struggles resulted from years of mismanagement, irresponsible borrowing, and reckless spending by previous leadership that failed to address underlying structural economic issues.
“We are gathered here today because we believe in Ghana’s ability to rise again. We are gathered here to reclaim our country’s economic strength and play as a victim of progress on the African continent, not only a victim of democracy, but a victim of the proletariat,” the President stated.
The President said his administration is committed to providing incentives and tax breaks for manufacturers and businesses that extend their operational hours, encouraging a shift-based employment system that expands job opportunities.
“Across the world, thriving economies have embraced continuous productivity, ensuring that businesses, industries, and essential services operate around the clock to maximise growth and prosperity.
“It is time for Ghana also to step forward and break free from the limitations of a traditional economy and embrace a future where opportunity is not confined by time,” he said.
He called for a review of laws to eliminate excessive waste in government procurement, stating that single-source procurement must be the rare exception rather than the norm.
President Mahama agreed with the calls for a review of agreements governing Ghana’s extractive industries, saying, “Ghana must earn more from its natural resource endowment to create wealth and prosperity for the people”.
The President emphasised that fiscal responsibility must become the bedrock of the national development strategy, ensuring that public funds deliver value to Ghanaians.
“The responsibility for rebuilding Ghana’s economy does not rest on the government’s shoulders alone. It is a shared responsibility that requires the active participation of everybody,” he noted.
He called on Ghanaians to rise to the occasion and take necessary action to ensure economic resilience, stability, and prosperity for future generations.
Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of The Accra Daily Mail, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
