Ghana’s Economy Strong Enough to Endure Global Shocks - Mahama

President John Mahama has stated that Ghana’s economy has grown stronger and is now capable of handling external economic pressures, following policy actions taken by his administration over the past year.

During his Resetting Ghana Tour in the Bono Region on Wednesday, March 18, he pointed to rising global tensions particularly those involving Israel, Iran, and the United States as a reminder of the importance of maintaining a stable domestic economy.

He explained that previous global disruptions, including the COVID-19 pandemic and the Russia-Ukraine conflict, revealed how fragile economies can be when they lack sufficient financial safeguards.

According to him, unexpected global events can happen at any time, and countries without strong monetary systems are more vulnerable to instability.

President Mahama emphasized that his government has prioritized economic stability by strengthening monetary policies and implementing measures designed to cushion the economy against future shocks.

He expressed optimism that these efforts have already improved the country’s resilience, noting that Ghana is now better prepared to withstand the effects of ongoing global uncertainties.

Additionally, he outlined plans tied to the government’s proposed 24-hour economy initiative. This plan includes building modern market hubs in districts nationwide, equipped with essential services such as a Women’s Development Bank, security and emergency facilities, cold storage, childcare centers, dining areas, and transport terminals.

He said the project aims to increase productivity, empower women entrepreneurs, and promote a more inclusive and efficient economic system across the country.