Mahama: Ghana’s Economic Turnaround Has Shocked Us All

President John Dramani Mahama has expressed surprise at the speed of Ghana’s economic recovery, describing the turnaround as much faster than he initially anticipated when his administration took office amid severe economic difficulties.

Speaking at the First Sky Group’s Thanksgiving Service in Accra on Sunday, January 25, President Mahama said the scale and pace of the recovery have exceeded expectations, earning commendation from international financial institutions, including the International Monetary Fund (IMF) and the World Bank.

According to the President, the economic situation his government inherited was so dire that he believed it would take at least two years before meaningful improvements could be recorded.

He pointed to key economic indicators—such as the sharp decline in inflation and the strong performance of the Ghanaian cedi—as clear evidence of the progress made so far.

President Mahama attributed the gains to sound policy implementation, fiscal discipline, and divine grace.

“I have been at this job before, and the crisis that faced us was very difficult. In my own imagination, I thought we would need about two years to see an economic turnaround. But Ebenezer, this is how far God has brought us,” he said.

“We are all surprised and shocked at the quick turnaround. When I meet IMF and World Bank officials, they can’t even believe what has happened in Ghana. Ghana has now become a poster boy for the IMF and the World Bank.”

He added,

“To bring inflation down from 23.8 per cent to 5.4 per cent in one year, and to see the Ghanaian cedi appreciate by 37 per cent for the first time in a year—it can only be the grace of God.”