President Mahama Vows Fiscal Discipline, Structural Reforms
Story By: Solomon Tetteh Nartey
President John Dramani Mahama has reiterated his commitment to completing outstanding structural reforms, pledging to implement corrective measures aimed at restoring fiscal discipline.
Ghana’s key structural reforms currently focus on tax policy, revenue administration, public financial management, and addressing challenges in the energy and cocoa sectors. Delivering the State of the Nation Address, President Mahama stated that the International Monetary Fund (IMF) executives are expected to approve the upcoming review of Ghana’s IMF program.
“We are doubling our efforts to complete all our standard structural reforms. Through the budget, we will implement corrective measures to restore fiscal discipline and debt sustainability,” he noted.
The President also assured bondholders of his administration’s commitment to meeting financial obligations, highlighting that additional buffers have been built in the Sinking Fund to honor maturing bonds due in July and August.
“Bondholders can rest assured that they will be paid whatever is owed them,” he stated.
Mahama urged business owners and foreign investors to have confidence in his administration’s ability to revitalize the economy.
“Since we took office on January 7th, 2025, we have upheld our commitment to a fiscal consolidation agenda with a streamlined government,” he said. He further explained that his government’s prudent debt management strategies have led to a substantial reduction in interest rates, reinforcing Ghana’s path to economic stability.
