President John Dramani Mahama has stressed the need to strengthen Ghana’s Fiscal Responsibility Act and the Public Financial Management Act.
Speaking at the Africa Business Forum 2025 in Addis Ababa, Ethiopia, on Monday, February 17, he said, “In a crisis, the first thing that you do is to focus on stabilising, and that is what we are focused on—bringing interest rates and inflation down, stabilising the currency, and dealing with debt overhang. That is where our focus is for now.”
He further emphasized the importance of understanding the root causes of the crisis, saying, “At the same time, we must analyse the factors that brought Ghana to this point and implement steps to ensure we do not end up in this situation again. That will entail strengthening the Fiscal Responsibility Act and the Public Financial Management Act.”
Mahama also highlighted the need to address corruption and waste, stating, “We need to cut out waste and reduce corruption. These are some of the critical issues that must be addressed.”