President John Mahama has expressed optimism about Ghana’s economic resilience, stating that recent policy measures have positioned the country to better withstand global shocks.
Speaking during his “Resetting Ghana Tour” in the Bono Region on Wednesday, March 18, the President pointed to rising international tensions involving Israel, Iran, and the United States as a reminder of the unpredictability of the global economy and the importance of a strong domestic foundation.
He noted that previous global crises, including the COVID-19 pandemic and the Russia-Ukraine war, exposed weaknesses in economies that lacked sufficient financial safeguards.
“In this world, unexpected events can occur at any time. If your monetary system is not well cushioned, such shocks can destabilise the economy,” he said.
President Mahama explained that his administration has prioritised economic stabilisation, including tighter monetary policies, to ensure Ghana is better prepared to absorb external pressures.
“I have hope that the measures we have put in place in our first year have strengthened the economy. Even with ongoing global tensions, our economy will be able to withstand the impact,” he added.
The President also outlined plans under the government’s proposed 24-hour economy model, which aims to enhance productivity and drive inclusive growth. As part of the initiative, modern market centres are expected to be established in districts across the country.
According to him, these facilities will include essential services such as a Women’s Development Bank, police and fire stations, cold storage systems, daycare centres for traders’ children, hospitality spaces for food vendors, and transport terminals.
He said the initiative is designed to support women-led enterprises, improve working conditions for traders, and create a more efficient and inclusive economic environment nationwide.
