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President John Dramani Mahama has defended his administration’s economic management, stating that deliberate policy measures have stabilised Ghana’s currency and significantly improved overall economic performance.
Delivering the 2026 State of the Nation Address in Parliament on Friday, February 27, President Mahama said his government made currency stability a central priority upon assuming office, stressing that the results are already evident.
According to him, the objective was not to artificially control foreign currencies but to strengthen the cedi to compete effectively on the international market.
“We made currency stability a priority, and we have delivered. We did not arrest the dollar; we strengthened the cedi to put up a good fight against other currencies,” he told Parliament.
Cedi Records Major Gains
The President disclosed that the cedi recorded significant gains against major international currencies. According to figures he presented, the local currency appreciated 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.
Economy Surpasses $100 Billion
President Mahama further indicated that Ghana’s economy has reached a historic milestone, revealing that it has, for the first time, surpassed the 100-billion-dollar mark.
He noted that this 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.