We are all shocked and surprised at the quick turnaround of Ghana’s economy – Mahama

President John Dramani Mahama has expressed astonishment at the speed of Ghana’s economic recovery, noting that the turnaround has occurred far more rapidly than he initially expected when his administration took office amid severe economic difficulties.

Addressing congregants at the First Sky Group’s Thanksgiving Service in the Northern Region on Sunday, January 25, the President said the pace of improvement has surpassed both domestic and international expectations, attracting commendation from institutions such as the International Monetary Fund (IMF) and the World Bank.

President Mahama explained that the economic conditions inherited by his government were so challenging that he anticipated it would take at least two years before tangible signs of recovery would emerge.

However, recent developments, he said, have defied those projections.

He pointed to significant improvements in key macroeconomic indicators, including a sharp drop in inflation and the strong performance of the Ghanaian cedi, as clear evidence that the economy is rebounding faster than anticipated.

The President attributed the gains to prudent economic management, discipline, and what he described as divine intervention.

“I have done this job before, and the crisis we faced was extremely difficult. In my own estimation, I thought it would take about two years to see an economic turnaround. But this is how far God has brought us,” he said.

“We are all surprised and shocked at the speed of the recovery. Whenever I meet IMF and World Bank officials, they are amazed at what has happened in Ghana. Today, Ghana has become something of a poster child for the IMF and the World Bank. Bringing inflation down from 23.8 per cent to 5.4 per cent within a year, and seeing the cedi appreciate by 37 per cent in the same period, can only be attributed to the grace of God,” the President added.

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