President John Dramani Mahama has said he is pleasantly surprised by the speed at which Ghana’s economy is recovering, noting that the turnaround has come much faster than he expected when his administration assumed office during a period of deep economic distress.
Speaking at the First Sky Group’s Thanksgiving Service in the Northern Region on Sunday, January 25, President Mahama said the pace of recovery has exceeded both local and international expectations, drawing praise from institutions such as the International Monetary Fund (IMF) and the World Bank.
He explained that the economic situation his government inherited was so severe that he had anticipated it would take at least two years before meaningful improvements became visible. Contrary to those expectations, recent developments have shown a much quicker rebound.
The President highlighted notable progress in key macroeconomic indicators, including a significant reduction in inflation and a strong appreciation of the Ghanaian cedi, as clear signs of the economy’s rapid recovery.
According to him, the gains are the result of sound economic management, fiscal discipline, and divine grace.
“I have done this job before, and the crisis we faced was extremely difficult. In my own estimation, I thought it would take about two years to see an economic turnaround. But this is how far God has brought us,” President Mahama said.
He added that officials from the IMF and World Bank have expressed amazement at Ghana’s progress, describing the country as a model for economic recovery. “Bringing inflation down from 23.8 per cent to 5.4 per cent within a year, and seeing the cedi appreciate by 37 per cent over the same period, can only be attributed to the grace of God,” he noted.
