President John Dramani Mahama has assured Ghana’s business community that the country’s current economic stability will be sustained beyond the completion of the International Monetary Fund (IMF) Extended Credit Facility Programme.
Speaking at the Ghana CEO Summit, President Mahama said government’s next phase of economic management would focus on maintaining fiscal discipline while shifting attention toward production, job creation, and higher incomes for citizens.
“We have spent considerable time discussing economic recovery, stability, and national reset. These are necessary foundations, but they are not enough on their own,” the President stated.
According to him, Ghana has recently completed the IMF Extended Credit Facility Programme and has agreed to transition into the Policy Coordination Instrument (PCI) framework for technical assistance with the Fund.
He explained that the arrangement is intended to preserve economic discipline and policy credibility over the medium term.
“This decision was taken in order to maintain policy credibility and fiscal discipline over the next 36 months, thereby supporting economic stability and sustainable development,” President Mahama said.
He further assured investors and business leaders that the gains made under the economic recovery programme would not be temporary.
“Captains of industry and business can therefore rest assured that the current stability we enjoy is not a fluke,” he stressed. “It will be sustained into the future.”
President Mahama added that Ghana had spent enough time focusing on stabilization and must now accelerate growth and productivity. “We have taxed it long enough; it is time to take off,” he declared.
The President emphasized that economic transformation must move beyond macroeconomic indicators and deliver real improvements in the lives of ordinary Ghanaians.
“But stability must underpin production. Production must create jobs. Jobs must raise incomes,” he said.
“And higher incomes must restore confidence and dignity amongst our people. Economic transformation must be defined by how it improves the daily lives of Ghanaians, not just by statistics.”
President Mahama’s remarks formed part of a broader address focused on industrialization, regulatory reforms, private sector growth, and government’s vision for a more productive and competitive economy.
Story: Patrick Asford Boadu
