President John Dramani Mahama has announced that the recent appreciation of the Cedi has slashed the country’s total debt burden by nearly GH₵150 billion.
Speaking at a high-level presidential session during the 60th Annual Meeting of the African Development Bank (AfDB) and the 51st Annual Meeting of the African Development Fund (ADF) in Abidjan, President Mahama said Ghana could meet its medium-term debt sustainability targets far ahead of schedule if the Cedi’s upward trend continues.
“If that trajectory continues, the target of reaching 55 to 58 per cent debt sustainability by 2028 will be met by the end of this year, that gives us the fiscal space to invest in the most productive sectors of the economy,” he said.
He credited this progress to decisive fiscal and monetary measures implemented by his administration over the past five months, moves he described as bold but necessary to restore investor confidence, stabilise the economy, and drive long-term growth.
Once plagued by steep depreciation, the Cedi has rebounded sharply in recent weeks, buoyed by improved forex inflows, tighter macroeconomic discipline, and rising export earnings.
The AfDB Annual Meetings convene African leaders, policymakers, and financial stakeholders to shape strategies for sustainable development across the continent.