SONA 2026: “We Didn’t Arrest the Dollar; We Strengthened the Cedi” – Mahama

President John Dramani Mahama has defended his administration’s handling of the economy, stating that targeted policy measures have stabilised Ghana’s currency and strengthened overall macroeconomic performance.

Speaking during the 2026 State of the Nation Address in Parliament on Friday, February 27, the President said currency stability became an immediate priority when his government assumed office.

“We made currency stability a priority, and we have delivered. We did not arrest the dollar; we strengthened the cedi to put up a good fight against other currencies,” he told lawmakers.

Cedi Records Significant Gains

According to the President, the Ghanaian cedi posted notable appreciation against major international currencies, rising by 40.7 percent against the US dollar, 30.9 percent against the British pound, and 24 percent against the euro.

He described the gains as evidence of a broader economic recovery strategy that has begun yielding positive results across multiple sectors within his administration’s first year in office.

Economy Surpasses $100 Billion

President Mahama also revealed that Ghana’s economy has, for the first time, crossed the $100-billion mark  a milestone he said reflects renewed investor confidence and structural reforms.

He noted that this achievement positions Ghana among Africa’s leading economies, with projections pointing to sustained expansion driven by ongoing fiscal discipline and stabilisation efforts.

The President reaffirmed his government’s commitment to maintaining macroeconomic stability, promoting inclusive growth and improving living standards as the country continues what he described as a renewed path of progress and development.