President John Dramani Mahama has said Ghana has undergone a significant economic turnaround, pointing to falling inflation, stronger reserves, and renewed investor confidence as evidence of recovery.

Speaking at the Ghana–UK Investment Summit in London on Monday, June 1, he recalled that the country faced severe economic challenges when his administration assumed office, including weakened investor confidence, high inflation, debt vulnerabilities, and constrained fiscal space.

“When my administration assumed office, Ghana faced significant economic difficulties. Investor confidence had weakened. Inflation was high. Debt vulnerabilities had constrained fiscal space. Businesses were struggling with uncertainty. We took decisive action,” he stated.

He said the government responded with disciplined economic management, institutional reforms, fiscal consolidation, and closer coordination between monetary and fiscal authorities, which collectively helped restore stability.

According to him, inflation has declined sharply from 23.8 per cent in December 2024 to 3.4 per cent as of April 2026, while international reserves have strengthened from about US$8.9 billion to nearly US$13.8 billion.

He further noted that interest rates are easing, the Ghana cedi has stabilised and appreciated against major global currencies, and the country’s sovereign credit outlook has improved following recent upgrades by international ratings agencies.

“These improvements are not abstract macroeconomic indicators. They translate into a more predictable investment environment, lower operating uncertainty, greater currency stability, and improved planning conditions for businesses and investors,” he added.

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He stressed that the progress reflects a broader restoration of confidence in the Ghanaian economy, positioning the country for sustained growth and deeper global engagement.