Mahama: Stabilizing the Cedi Will Be My Top Priority

President-elect John Dramani Mahama has made it clear that stabilizing Ghana’s economy, particularly focusing on the national currency, will be a key priority once he takes office. In his comments following his electoral victory, Mahama acknowledged the significant economic challenges facing the country, including inflation and the steady depreciation of the cedi. These issues have had a profound impact on citizens, and Mahama expressed confidence that his administration would have a clear plan to address them.

Mahama’s remarks came during a visit from Mourad Louhaidia, the Algerian Ambassador to Ghana, who congratulated him on his electoral win. During this meeting, Mahama outlined his strategy for the future, emphasizing the importance of economic recovery and growth, both domestically and in the context of Ghana’s international relations.

“My administration will focus on boosting Ghana’s economic performance, stabilizing the currency, and tackling inflation,” Mahama said. “This is the time for Ghana to work more closely with our international partners, especially China, to address these pressing economic concerns.”

One of Mahama’s primary goals is to stabilize the Ghanaian cedi, which has faced significant depreciation in recent years. This has contributed to a rise in inflation, putting financial strain on the population. Mahama stated that his government would focus on restoring the economy’s stability, ensuring that the currency regains its value and inflation is brought under control.

Mahama expressed optimism that, with the right strategies, his administration would be able to revitalize the country’s economic growth. He believes that through strategic partnerships and engagement with global economies, Ghana can overcome these challenges. As part of this vision, he stressed the importance of engaging with international partners like China, which has played a significant role in Ghana’s economic development.

“We intend to initiate talks with China as soon as we complete the transition of power,” Mahama added. “Our goal is to establish a strong technical cooperation with China, which will be vital in supporting the nation’s economic recovery.”

Mahama’s commitment to economic reform comes at a critical time when the Ghanaian economy is struggling under inflationary pressures, currency devaluation, and high public debt. His plans to stabilize the cedi and reduce inflation align with the need for immediate intervention to improve the livelihoods of Ghanaians.

In addition to focusing on stabilizing the currency, Mahama also highlighted the importance of reviving Ghana’s economic growth through broader initiatives. His administration will prioritize investment in key sectors like infrastructure, agriculture, and manufacturing, aiming to create jobs, stimulate domestic production, and encourage foreign investment. Mahama’s vision for Ghana includes a diversified economy that can withstand external shocks and generate sustainable growth in the long term.

Furthermore, Mahama emphasized that strengthening Ghana’s international relations, particularly with key partners like China, would play a crucial role in facilitating economic recovery. Over the years, China has been one of Ghana’s most important partners in terms of trade and infrastructure development, and Mahama believes that deepening this relationship will help Ghana access the necessary resources and technical expertise to overcome its economic challenges.

Mahama’s commitment to stabilizing the economy, addressing inflation, and revitalizing the cedi demonstrates his proactive approach to Ghana’s current financial crisis. His focus on building strong international partnerships, particularly with China, reflects his understanding of the global nature of economic challenges and the need for collaborative solutions. As he prepares for his return to office, Mahama’s message resonates with Ghanaians who are eager for economic relief and recovery after years of financial difficulties. His administration is set to focus on policy solutions aimed at improving the lives of everyday Ghanaians by ensuring economic stability and growth.