Dr Toni Aubynn is the CEO of PHDC
The Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr Toni Aubynn, has stated with conviction that the trajectory of Ghana’s economy under the leadership of President John Dramani Mahama will ultimately shield the country from the need to seek assistance from international agencies such as the International Monetary Fund (IMF).
In a speech delivered at the 77th Annual New Year School and Conference of the University of Ghana on Tuesday, January 6, 2026, Dr Aubynn explained that the government is charting a path to restructure the economy from one driven by consumption to one anchored in production, value addition, and exports.
He noted that initiatives such as the 24-Hour Economy, the Big Push, and the Accelerated Export Development Programme are being implemented to ensure Ghana’s economy becomes resilient and no longer susceptible to internal or external shocks that might necessitate a return to the IMF or other credit agencies.
Dr Aubynn added that the government is pursuing public sector reforms to ensure fiscal discipline and effective monetary policies.
“We must ensure that Ghana’s 17th IMF programme becomes our last, and I am pleased that the government is working towards this goal,” he said.
“Under the visionary leadership of His Excellency President John Dramani Mahama and the diligent stewardship of his economic management team, we are witnessing not only a revival but a deliberate reset of the Ghanaian economy. Through fiscal discipline, prudent monetary policies, and strategic reforms, we are emerging from the challenges that placed Ghana’s economy on the brink a few years ago. Leadership indeed matters.
“Key economic indicators reflect this progress: GDP growth, which stood at 2.9% in 2023, accelerated to approximately 5.7% in 2024 and has remained robust into 2025, driven by agriculture, services, and downstream petroleum activities. Inflation, once a severe burden, has been brought under control, declining significantly from 23% at the end of 2023 to between 6% and 8% by late 2025, thanks to stabilised commodity markets and effective policy measures. Employment trends show improvement, with unemployment easing amid expanded opportunities. The cedi has also gained greater stability, providing relief to businesses and citizens alike,” he added.
Dr Aubynn’s statements were echoed by President John Dramani Mahama, who expressed his commitment to building a sustainable economy that will stand the test of time. The President added that his government is implementing reforms and constructing structures to make it impossible for successive administrations to deviate from the path of progress and development.
“We will emerge from the extended credit facility with the IMF towards the middle of this year,” President Mahama stated. “It is my hope that this will be the very last time we seek a bailout from that international monetary institution.”
With pointed emphasis, he added, “It must be the 17th and last time that Ghana seeks a bailout from the IMF.”
Source:
www.ghanaweb.com