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President John Dramani Mahama has defended his administration’s economic management, stating that targeted policy interventions have stabilised Ghana’s currency and improved overall economic performance.
Delivering the 2026 State of the Nation Address in Parliament on Friday, February 27, the President said currency stability was made a top priority upon assuming office, adding that the impact of those measures is already visible.
According to him, the aim was not to artificially suppress 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.
President Mahama disclosed that the cedi recorded notable gains against major international currencies, appreciating 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 implemented within his administration’s first year in office, noting that several sectors have responded positively.
The President further announced that Ghana’s economy has, for the first time, surpassed the 100-billion-dollar mark, describing it as a historic milestone. He said the achievement places Ghana among Africa’s larger economies, with projections indicating continued expansion driven by ongoing reforms and stabilisation efforts.
He reaffirmed the government’s commitment to sustaining macroeconomic stability, promoting inclusive growth, and improving living conditions as the country continues what he termed a renewed path of progress and development.
