By 2024, Ghana’s economy showed clear signs of stabilisation – IERPP

The Institute of Economic Research and Public Policy (IERPP) has refuted President Mahama’s claim that Ghana is in an economic crisis, arguing that the nation is instead in a recovery phase.

According to IERPP, by 2024, Ghana’s economy showed signs of stabilization, with GDP growth at 3.2%, a rebound in cocoa production, and improved fiscal indicators.

Inflation has eased, the cedi remains stable at GH₵12–13 per USD, and debt levels have been reduced to 75–80% of GDP due to successful fiscal reforms and debt restructuring.

IERPP also highlighted progress in economic diversification and social protection measures, asserting that the challenges are manageable through continued reforms.

Former Finance Minister Dr. Mohammed Amin Adam similarly criticized President Mahama’s address as propagandistic, noting the effective use of legacy reserves to support the cedi.