Ghana’s Debt Reduced by GH₵150 Billion in 5 Months – President Mahama

Government touts economic recovery through currency stability and strategic policy reforms

President John Dramani Mahama has disclosed that Ghana’s total debt burden has dropped by an estimated GH₵150 billion within the last five months. He attributes the decline to the sustained appreciation of the Ghana cedi and the implementation of prudent fiscal and monetary policies by his administration.

Speaking at a public forum, President Mahama emphasised that the turnaround in Ghana’s economic indicators is a testament to the government’s resolve to stabilise the economy and lessen the country’s debt load.

President Mahama Attributes Drop to Cedi Gains and Fiscal Discipline

“Our administration’s commitment to sound fiscal management, coupled with a stronger cedi, has yielded results. In just five months, our national debt stock has declined significantly—by nearly GH₵150 billion,” he stated.

This reduction, he explained, is due in part to the revaluation of external debt components, which decrease in local currency terms as the cedi gains strength against the dollar and other major foreign currencies.

The President further noted that the Bank of Ghana and the Ministry of Finance have been working in tandem to tighten fiscal discipline, improve revenue mobilisation, and reduce wasteful expenditure—all contributing to the country’s improved macroeconomic outlook.

Ghana’s economic recovery has been a major point of public and political interest, especially following the economic downturn and inflationary pressures experienced in recent years.

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