Cedi’s surge backed by $10.6bn reserves – Mahama

President John Dramani Mahama has linked the recent recovery of the Ghanaian Cedi to strong foreign exchange inflows. He also mentioned deliberate policy measures aimed at stabilizing the economy.

The President noted that gross international reserves increased from $8.9 billion in December 2024 to $10.6 billion by April 2025. This growth reflects rising investor confidence and stronger financial buffers.

Speaking at the Ghana–EU Business Forum in Accra on May 20, he emphasized the government's commitment to achieving economic growth targets for the year. The forum focused on “Deepening Ghana-EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy.” It brought together key stakeholders from Ghana and the European Union.

President Mahama stated that fiscal consolidation is progressing well. The fiscal deficit has decreased from 7.5% of GDP in 2024 to 6.4% in early 2025. He believes they are on track to reach a target of 3.1% by year-end through better spending and revenue collection.

He described these early figures as signs of discipline and economic recovery. The trade relationship with the European Union remains strong and mutually beneficial.

Building on this positive outlook, President Mahama reassured local and international investors about his administration’s commitment to a secure investment environment. He promised transparent governance, predictable policies, and a reformed business climate.

He emphasized restoring confidence in public procurement systems, enforcing contracts, and protecting investor rights under both domestic and international laws.