Monday, December 19, 2022, has been described by President John Dramani Mahama as “one of the darkest days in Ghana’s economic history.”
This, the President says, is due to Ghana’s debt default announcement by the then government led by William Addo Dankwa Akufo-Addo, where a moratorium was placed on both domestic and external debt repayment.
President Mahama, speaking in Parliament during the 2026 State of the Nation Address (SONA) on Friday, February 27, 2026, touted the efforts made by his Economic Management Team in strengthening the Ghana cedi to compete with other major currencies on the forex market.
He defended his administration’s economic record, stressing that robust measures implemented by the government warranted the strengthened economy and not any artificial control of the US dollar as being propagated by the opposition.
“We did not arrest the dollar; we strengthened the cedi to put up a good fight against the other currencies,” he said.
The President stressed that sound economic management extends beyond policy pronouncements and macroeconomic targets. He explained that his government’s priority is to ensure that recovery efforts translate into tangible improvements in living standards, job creation and expanded opportunities for Ghanaian youth.
He highlighted ongoing initiatives aimed at stabilising the economy, strengthening key sectors such as energy, agriculture and manufacturing, and expanding social intervention programmes to protect vulnerable groups.
According to him, the administration’s approach combines fiscal discipline, accountability and targeted investment to restore investor confidence and accelerate national development.
President Mahama concluded by stating that his government would be judged not merely on plans and projections, but on measurable results that positively impact the daily lives of Ghanaians, underscoring a commitment to practical outcomes and sustained progress.
No patient must be turned away by any health facility – Mahama
