President John Dramani Mahama has defended his administration’s economic management, stating that targeted policy interventions have stabilised Ghana’s currency and strengthened overall economic performance.
Delivering the 2026 State of the Nation Address (SONA) in Parliament on Friday, February 27, President Mahama said his government placed currency stability at the forefront of its agenda upon assuming office, adding that the outcomes are already visible.
According to him, the goal was not to artificially control foreign currencies but to empower the cedi to compete effectively on the international market.
“We made currency stability a priority, and we have delivered. We did not arrest the dollar; we strengthened the cedi to put up a good fight against other currencies,” he told Parliament.
The President disclosed that the cedi recorded notable gains against major international currencies, appreciating by 40.7 percent against the US dollar, 30.9 percent against the British pound, and 24 percent against the euro.
He described the progress as part of a broader economic recovery programme that has positively affected multiple sectors within his administration’s first year in office.
President Mahama further announced that Ghana’s economy has reached a historic milestone, surpassing the $100 billion mark for the first time.
He said the achievement places Ghana among Africa’s largest economies, with projections pointing to sustained expansion driven by ongoing reforms and stabilisation measures.
The President maintained that his government remains committed to preserving macroeconomic stability, accelerating growth, and improving living standards as the country advances on what he described as a renewed path of progress and development.
