Skip to main content

Ghana taking proactive steps to overcome economic challenges, says Mahama

 


President John Mahama has reaffirmed Ghana’s commitment to addressing its economic challenges through strategic measures and international partnerships.

He assured the citizens that the nation is on the path to stability and recovery.

Speaking at the Chinese Lantern Festival Gala, he highlighted the resilience of the Ghanaians and the importance of partnerships, particularly with China, in achieving sustainable growth.

Reflecting on the symbolic significance of the Lantern Festival, President Mahama drew parallels between the festival’s message of hope and Ghana’s current economic journey.

The world today faces many challenges—economic uncertainties, global conflicts, climate change, and emerging health concerns—yet the light of this festival reminds us that even in times of darkness, hope must never be lost,” he stated.

Acknowledging Ghana’s economic hurdles, President Mahama assured that proactive steps were being taken to ensure recovery.

Ghana, like many other nations, is working hard to address economic and social challenges, and we’re grateful for the support of our friends and partners, including China,” he noted.

He stated that through resilience, unity, and a shared vision for progress, Ghana could navigate its economic difficulties and build a stronger future.

The President underscored the importance of collaboration, stressing that international partnerships, particularly with China, remain crucial in Ghana’s economic revitalisation efforts.

As we move forward, we must continue to embrace cooperation and mutual respect, ensuring that the benefits of our partnership are shared by all our people,” he said.

President Mahama’s remarks reinforced his administration’s commitment to fostering stability through diplomatic and economic engagements.

He expressed appreciation for the longstanding relationship between Ghana and China, highlighting the support received in key sectors such as infrastructure, trade, and technology.

His speech served as both a reassurance and a call to action, urging Ghanaians to remain hopeful and committed to national progress.

As Ghana continues its efforts to stabilise the economy, the government’s focus on strategic planning and international cooperation will be instrumental in shaping a prosperous future.

Comments

Popular posts from this blog

Fitch Solutions retains 2025 growth rate projection at 4.2%

 Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...

BoG injects $20m into FX market to support 11 BDCs

  The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

  As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...