President John Mahama has credited Ghana’s recent Fitch Ratings upgrade, from Restricted Default to B-Minus with a stable outlook, to the government’s prudent economic management.
Speaking at the 2025 Ghana-European Union Partnership Dialogue in Accra, Mahama noted that Ghana’s macroeconomic outlook is steadily improving, driven by fiscal discipline and stronger governance.
“We are stabilizing inflation, restoring confidence through debt restructuring, and rebuilding fiscal space for development,” he said.
The Dialogue was attended by all 10 EU ambassadors resident in Ghana and over 10 Ghanaian Ministers of State.
Mahama highlighted the government’s commitment to:
- Enhanced domestic revenue mobilization
- Expenditure rationalization
- Regulatory and institutional reforms to improve transparency and reduce inefficiencies
He acknowledged the EU’s support in public financial management, anti-corruption efforts, and domestic revenue reforms as vital to Ghana’s long-term stability.
Boosting Private Sector Investment
The President also stressed the importance of a thriving private sector, announcing:
- A unified licensing regime to remove regulatory bottlenecks
- A public-private dialogue framework to ensure business input in national policy
- A new Regulatory Impact Assessment (RIA) system to improve data-driven policymaking
“We welcome EU investors as we revise the Ghana Investment Promotion Centre Act to support joint ventures and technology transfer,” he added.
Ghana aims to become a regional hub for agribusiness, value-added manufacturing, and digital innovation, with European expertise playing a key role.
EU Commends Ghana’s Leadership
EU Ambassador Irchad Razaaly praised Ghana’s role at the UN Security Council and its support for a rules-based international order.
“Ghana has shown strong leadership on territorial integrity and sovereignty,” he said.
Foreign Affairs Minister Samuel Okudzeto Ablakwa called for accelerated climate action, emphasizing the need for EU support in accessing climate and green financing, and carbon market funding.
“Ghana’s environmental sustainability and renewable energy efforts are progressing but need more international backing,” he stated.
