President John Dramani Mahama has touted the benefits that the 24-Hour Economy idea brings during his address to the 80th United Nations General Assembly on Thursday, September 25.
He said the initiative promises to transform Ghana’s economy.
“Our improved sovereign credit rating reflects increasing investor confidence. Our 24-Hour Economy Initiative promises to transform our economy. There is a renewed willingness among the people to trust that their elected officials have Ghana’s interests at heart and that we are progressing together,” President Mahama said.
He further said that when he took over the affairs of Ghana on January 7, 2025, the local currency was rapidly depreciating.
He also pointed out that inflation was rising during the same time.
However, after eight months in office, he said, the Cedi has appreciated against the major currencies and the inflation rate has also dropped.
“Our currency, the Ghana cedi, was rapidly depreciating. Faced with rising inflation, a huge debt burden, and low morale amongst our citizens, my new administration quickly embarked on an ambitious programme of comprehensive transformation is designed to restructure Ghana’s economic foundation and enhance our competitive standing globally.
“We refer to this process of recalibration as our reset agenda,” he said.
He added “In just eight months, we have achieved a significant reduction in inflation, from 23.8% in December 2024 to 11.5% in August 2025, restoring price stability for our citizens.
“Additionally, the Ghana cedi has appreciated considerably against other currencies, with Bloomberg reporting it as the best-performing currency in the world at one point.
“Our improved sovereign credit rating reflects increasing investor confidence. Our 24-Hour Economy Initiative promises to transform our economy. There is a renewed willingness among the people to trust that their elected officials have Ghana’s interests at heart and that we are progressing together.”
Source:3news.com
