In January 2025, when President John Dramani Mahama assumed office as President of Ghana, he inherited an economy in free fall. The
inflation rate was above 23%, interest rates were over 30%, the Ghana Cedi was in evident collapse, and public debt figures were at 61.8% of GDP.

Twelve months later, the numbers now present a completely different story. Seasoned rating agencies, specifically Fitch, Moody’s and S&P, have all upgraded Ghana’s credit ratings, representing the first triple upgrade in years. Foreign exchange reserves have reached $13.8 billion, which covers 5.7 months of imports 4. Furthermore, the IMF’s Fifth Review 5 which was completed in December 2025 unlocked a $385 million disbursement and the President, following this has declared that this is Ghana’s last IMF programme. These represent very real gains built on real sacrifice and prudent governance. As such, they must be duly protected.