Mahama: Economic Recovery A Tough Task

Ghana’s President-elect John Dramani Mahama, has pledged to tackle the nation’s severe economic challenges and restore prosperity through focused efforts and strategic leadership, acknowledging the difficulties ahead.

Speaking at a thanksgiving service at the Assemblies of God Church in Accra on Sunday, December, 15, 2024, Mahama recognized the seriousness of the task ahead and restated his commitment to addressing the crisis with determination.

“Our country is still in a very severe economic crisis, and it will take a significant amount of work to restore prosperity.

“This is a tough task, but I pray that the God who entrusted me with this responsibility grants me the strength and wisdom to manage it effectively. I also pray for discernment and the ability to select the right people to serve in the best interest of Ghana,” Mahama stated

Mahama emphasized the importance of divine guidance, expressing unwavering faith in God’s favour upon the nation.

 “God’s favour remains on our dear country, Ghana, and I am confident that He will not forsake us,” he declared.

During an interview with VOA’s Paul Ndiho on Saturday, December 14, Mahama outlined his administration’s focus on achieving macroeconomic stability and debt sustainability. He stressed that the economy would be his top priority, as it impacts every sector, including education, agriculture, and sports.

“The economy will be the number one focus because its condition affects everything else. If the economy is struggling, it impacts education, agriculture, sports, and every other sector. Stabilizing the economy is critical,” Mahama explained.

He identified two major challenges facing the nation: macroeconomic stability and debt sustainability. Unlike previous engagements with the International Monetary Fund (IMF), which primarily addressed macroeconomic stability, Mahama highlighted the need to tackle both issues simultaneously.

“In previous IMF engagements, the focus was solely on macroeconomic stability. However, we now face twin challenges. We will continue with the IMF programme while addressing these issues simultaneously,” he said.

The President-elect revealed that his administration has initiated discussions with the IMF to ensure alignment on the programme’s implementation.

“We were part of the negotiation of this programme, and we’ve requested discussions to ensure we are on the same wavelength regarding its implementation,” Mahama noted.

He clarified that his administration has no intention of abandoning the IMF programme but seeks opportunities to make necessary adjustments.

“I want to make it clear that we are not jettisoning the programme. However, within its framework, there may be room for adjustments. If we reach an agreement, we will continue the programme until its conclusion,” he added.