President John Dramani Mahama has expressed surprise at the pace of Ghana’s economic recovery, describing the turnaround as faster than he had personally anticipated when his administration assumed office amid deep economic challenges.
Speaking at the First Sky Group’s Thanksgiving Service in Accra on Sunday, January 25, President Mahama said the scale and speed of the recovery have exceeded expectations, even drawing admiration from international financial institutions like the International Monetary Fund (IMF) and the World Bank.
According to the President, the economic situation his government inherited was so severe that he initially believed it would take at least two years to begin seeing meaningful improvements.
Highlighting key economic indicators, the President pointed to the sharp decline in inflation and the strong performance of the local currency as evidence of the recovery.
The President attributed the gains not only to policy decisions but also to discipline and the grace of God.
“I have been at this job before. The crisis that faced us was very difficult. In my own imagination I thought we would need about two years to see an economic turnaround. But Ebenezer, this is how far God has brought us.
“We are all surprised and shocked at the quick turnaround. Any time I meet the IMF officials and the World Bank officials they can’t even believe what has happened in Ghana.
“So, Ghana has now become a Poster boy of the IMF and the World Bank. It is only the Grace of God. To bring Inflation from 23.8% to 5.4% in one year? I mean, how did we manage that? For the first time to see the Ghanaian Cedi appreciate by 37% in one year, it is only God,” he said.
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