SONA 2026: “We Didn’t Arrest the Dollar, We Strengthened the Cedi” – President Mahama
President Mahama highlights cedi gains against major currencies and Ghana’s $100 billion economic milestone as evidence of successful reforms and macroeconomic stability
- President Mahama said government policies stabilised the cedi, which appreciated significantly against the dollar, pound, and euro
- He described the currency gains as part of broader reforms aimed at restoring macroeconomic stability and growth
- Ghana’s economy has surpassed the $100 billion mark for the first time, positioning the country among Africa’s largest economies
President John Dramani Mahama has defended his administration’s economic policies, saying deliberate measures have strengthened Ghana’s currency and improved overall economic performance.
Delivering the 2026 State of the Nation Address in Parliament on Friday, February 27, Mahama emphasized that stabilizing the cedi was a central priority from the start of his term, and the results are already visible.
He clarified that the goal was not to artificially control foreign currencies but to bolster the cedi so it could 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,” Mahama told Parliament.
The President revealed that the cedi has posted significant gains, appreciating 40.7% against the US dollar, 30.9% against the British pound, and 24% against the euro. He described this as part of a broader economic recovery program that has positively impacted multiple sectors within his first year in office.
Mahama also highlighted Ghana’s economic milestone, noting that the country’s economy has, for the first time, surpassed the $100 billion mark, placing Ghana among Africa’s largest economies. He projected continued growth driven by ongoing reforms and stabilization efforts.
The President affirmed that his government remains committed to sustaining macroeconomic stability, promoting economic growth, and improving living standards as Ghana continues on a path of renewed development.
