President John Dramani Mahama has attributed the appreciation of the Ghana cedi to the significant increase in gross international reserves, which rose from US$8.9 billion in December 2024 to US$10.6 billion by April 2025.
He cites robust foreign exchange inflows and the government’s efforts to stabilise the economy as key factors in the local currency’s rebound.
According to the President, the surge in foreign exchange inflows stems from heightened investor confidence following the new administration’s takeover.
Speaking at the Ghana-EU Business Forum themed “Deepening Ghana-EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy,” the President expressed the government’s determination to achieve its economic growth targets for the year.
“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, and we are on track to meet our 2025 end year of 3.1% through expenditure rationalisation, improve domestic revenue mobilization and strong anti corruption measures,” he said on Tuesday, May 20, 2025.
He added that “These figures, though early in the year, are clear signs of discipline and inclusive economic recovery. Our trade with the European Union remains robust and neutrally beneficial.”
President Mahama assured investors that the government is taking measures to create a conducive environment to boost investment, urging potential investors to consider investing in the country.
He pledged his administration’s commitment to restoring confidence and prioritising the sanctity of contracts and investor rights to ensure investors get a fair return on their investments.
“I assure all potential investors that under this administration, Ghana is committed to transparent Governance, policy predictability and a reformed business environment. We are restoring confidence in our public procurement systems, enforcing contract sanctity and protecting investor rights under both domestic and international legal regimes,” he added.
Mahama: Feasibility studies for new national capital underway
