The recent economic stability achieved by Ghana can be attributed to the bold and prudent leadership of President John Dramani Mahama.

President John mahama’s comprehensive strategy, involving strict fiscal discipline, a credible monetary policy stance, and bold structural reforms, has yielded impressive results.

The current macroeconomic gains are not a product of inherited gold reserves, as some have suggested, but rather the outcome of deliberate and coordinated economic policy under the Mahama administration.

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The facts are clear: if gold reserves alone were the answer, why did the cedi struggle to stabilize during the NPP’s tenure, despite having access to the same reserves? The reality is that the current stability is a result of intentional steps taken by President Mahama’s administration to curb government borrowing, stabilize the exchange rate, and tame inflation.

The innovative Gold for Development (GoldBod) programme, introduced by Mahama administration, has been a game-changer in curbing gold smuggling, boosting foreign exchange inflows, and encouraging formalization in the gold sector. This programme has not only increased export revenues but also strengthened the cedi, demonstrating the potential of local resources in achieving macroeconomic stability.

The strength of the cedi can be attributed to a combination of factors, including reduced government borrowing, improved transparency in the forex market, and enhanced communication by the Bank of Ghana. These efforts have contributed to falling interest rates, declining inflation, and a normalizing yield curve all indicative of the trust that Ghana’s business community and development partners have placed in President Mahama’s leadership.

The recent upgrade of Ghana’s credit status by S&P Global is a prove to the credibility of the Mahama administration’s economic management.

This upgrade is not a result of gold reserves, but rather a reflection of the Mahama administration’s commitment to disciplined fiscal management and a clear path to debt sustainability.

It is concerning that the NPP would claim credit for the current economic stability while blaming external factors for the economic challenges during their tenure. The facts speak for themselves, and it is clear that President Mahama’s leadership has been instrumental in achieving Ghana’s economic stability.