42
Today, Thursday, September 25, President John Dramani Mahama spoke to the 80th United Nations General Assembly and praised the advantages of the 24-Hour Economy concept.
“The initiative has the potential to revolutionize our economy,” he remarked.
“Our improved sovereign credit rating reflects increasing investor confidence. Our 24-Hour Economy Initiative promises to transform our economy. There is a renewed willingness among the people to trust that their elected officials have Ghana’s interests at heart and that we are progressing together,” President Mahama stated.
He added that the local currency was sinking quickly when he assumed control of Ghana’s affairs on January 7, 2025.
Additionally, he noted that inflation was increasing at the same time.
He claimed that the Cedi has strengthened vs the major currencies and that the inflation rate has decreased after eight months in government.
“I was sworn in for a second term, which, I should add, is non-consecutive with the first. Our currency, the Ghana cedi, was rapidly depreciating. Faced with rising inflation, a huge debt burden, and low morale amongst our citizens, my new administration quickly embarked on an ambitious programme of comprehensive transformation designed to restructure Ghana’s economic foundation and enhance our competitive standing globally.”
“We refer to this process of recalibration as our reset agenda,” he reiterated.
“In just eight months, we have achieved a significant reduction in inflation, from 23.8% in December 2024 to 11.5% in August 2025, restoring price stability for our citizens,” he continued.
“Additionally, the Ghana cedi has appreciated considerably against other currencies, with Bloomberg reporting it as the best-performing currency in the world at one point.”
“Our improved sovereign credit rating reflects increasing investor confidence. Our 24-Hour Economy Initiative promises to transform our economy. There is a renewed willingness among the people to trust that their elected officials have Ghana’s interests at heart and that we are progressing together.”
Source: newsthemegh.com
