President John Dramani Mahama expressed surprise at how quickly Ghana’s economy has recovered, saying the progress has exceeded what his administration initially expected.
During the 23rd Anniversary and Thanksgiving Service of the First Sky Group held in Accra on Sunday, January 25, 2026, the President noted that the country’s fiscal stabilization has become a source of disbelief even among major global financial institutions.
The President revealed that both the IMF and World Bank were surprised by Ghana’s quick economic stabilization during recent discussions.
President Mahama said, “We are astonished by the swift turnaround. Even IMF and World Bank officials find Ghana’s progress hard to believe. Ghana now stands as a leading example for them.”
Reflecting on the severity of the economic crisis that his administration inherited, the President admitted that he had prepared the nation for a prolonged period of difficulty. He indicated that he initially anticipated it would take a minimum of two years to observe any significant signs of recovery.
“In my own mind, I believed that we would require approximately two years to start witnessing a turnaround… but Ebenezer, this is how far God has brought us,” he stated, crediting the achievement to a blend of stringent policy discipline and divine assistance.
To demonstrate the extent of the recovery, President Mahama emphasized two significant achievements realized within a single year:
“To reduce inflation from 23.8% to 5.4% in just one year? I mean, how did we manage to do that? For the first time, witnessing the Ghanaian Cedi appreciate by 37% in a year, it is solely by the grace of God,” the President remarked.
The President further indicated that Ghana’s swift reform strategy has positioned the nation as a model for other African countries encountering similar fiscal difficulties. He noted that neighboring nations are now looking to Ghana to examine the policy decisions and structural reforms that have led to this stability.
“When you visit other African nations, they say, ‘Don’t you see Ghana? Don’t you see what Ghana has achieved?’ And that is why I assert, it is by the grace of God,” he concluded.
