Mahama Toots Economic Horn: “We Didn’t Arrest the Dollar, We Empowered the Cedi”
President John Dramani Mahama has robustly defended his administration’s economic stewardship, asserting that strategic policy interventions have successfully stabilized the national currency and propelled Ghana into a new tier of continental economic power.
Delivering the 2026 State of the Nation Address (SONA) before Parliament on Friday, February 27, the President emphasized that his government’s approach focused on structural strength rather than temporary fixes.
A New Era of Currency Strength: Cedi Makes Double-Digit Gains
Addressing the legislature, President Mahama clarified the philosophy behind his administration’s monetary policy, stating that the objective was never to artificially suppress foreign exchange.
“We made currency stability a priority, and we have delivered,” he informed lawmakers. In a pointed remark on his administration’s tactics, he added, “We did not arrest the dollar; we strengthened the cedi to stand firm against other currencies.”
The President provided specific data to back these claims, highlighting a significant turnaround for the local currency within his first year in office.
According to the President, the cedi has achieved notable gains on the international stage, appreciating by 40.7 percent against the US dollar, 30.9 percent against the British pound, and 24 percent against the euro.
These gains, he noted, are the result of a comprehensive economic recovery program that has begun to yield dividends across multiple sectors.
Ghana Joins the Elite: Economy Surpasses Historic $100 Billion Milestone
Beyond currency performance, the President announced a landmark achievement for the nation’s financial standing.
He revealed that Ghana’s economy has officially surpassed the $100 billion mark for the first time in its history.
This milestone, he argued, solidifies Ghana’s position as one of Africa’s largest and most influential economies.
President Mahama concluded his address by linking these macroeconomic successes to the daily lives of citizens, pledging that the government remains focused on sustaining this momentum.
He projected continued expansion for the year ahead, driven by ongoing reforms and a commitment to improving the general living conditions of Ghanaians on what he characterized as a renewed path of progress and development.
Source: Felix NYAABA
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