President Mahama Attributes Cedi Recovery to Strong Forex Inflows, Sound Economic Policies
Accra, May 21, 2025 – President John Dramani Mahama has attributed the recent appreciation of the Ghanaian Cedi to robust foreign exchange inflows and a series of deliberate policy interventions aimed at stabilising the economy and restoring investor confidence.
Speaking at the Ghana–EU Business Forum held in Accra on Tuesday, May 20, President Mahama noted that Ghana’s gross international reserves have grown significantly, rising from $8.9 billion in December 2024 to $10.6 billion by April 2025. He emphasized that this growth signals strengthened financial buffers and increasing market confidence in the country’s economy.
Economic Stability and Fiscal Consolidation
Addressing participants at the forum, which was themed “Deepening Ghana-EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy,” President Mahama reaffirmed his administration’s commitment to economic growth, fiscal discipline, and inclusive development.
“Fiscal consolidation is underway. We have reduced the fiscal deficit on commitment basis from 7.5% of GDP in 2024 to 6.4% in the first half of 2025. We are on track to meet our 2025 end-year target of 3.1% through expenditure rationalisation, improved domestic revenue mobilisation, and robust anti-corruption measures,” he stated.
He described the encouraging economic indicators as signs of discipline and a gradual economic rebound, stressing the importance of strengthening Ghana-EU trade relations for sustainable development.
Boosting Investor Confidence
In a bid to attract both local and foreign investment, President Mahama assured stakeholders of his government’s dedication to creating a secure, transparent, and predictable business environment.
“I assure all potential investors that under this administration, Ghana is committed to transparent governance, policy predictability, and a reformed business environment,” he said.
The President further emphasized his administration’s resolve to restore confidence in public procurement systems, enforce contract sanctity, and protect investor rights under both domestic and international laws.
The Ghana–EU Business Forum attracted key players from across the public and private sectors, including European investors, Ghanaian entrepreneurs, and development agencies, all of whom discussed strategies for enhancing trade in non-traditional export sectors under the EU Global Gateway Strategy.
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