President John Dramani Mahama has credited the recent appreciation of the Ghanaian cedi to increased foreign exchange inflows and targeted policy interventions aimed at stabilising the economy.
Speaking at the Ghana–EU Business Forum in Accra on Tuesday, May 20, the President revealed that Ghana’s gross international reserves have risen significantly from $8.9 billion in December 2024 to $10.6 billion in April 2025.
He described this growth as a sign of strengthened external buffers and rising investor confidence.
He emphasised that the cedi’s recovery reflects deliberate fiscal discipline and macroeconomic reforms.
According to the President, the fiscal deficit on a commitment basis has dropped from 7.5% of GDP in 2024 to 6.4% in the first half of 2025, with a target to reach 3.1% by the end of the year.
This is being driven by expenditure rationalisation, improved domestic revenue mobilisation, and intensified anti-corruption efforts.
The forum, themed “Deepening Ghana-EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy,” brought together key stakeholders from Ghana and the European Union.
President Mahama reaffirmed his administration’s commitment to creating a secure and predictable environment for business.
He assured both local and international investors of transparent governance, respect for contracts, and robust protection of investor rights under both domestic and international laws.
“Our goal is to restore confidence in Ghana’s economic and regulatory systems, laying a firm foundation for sustainable growth and investment,” he said.
