Ghanaian President Nana Addo Dankwa Akufo-Addo said Friday that the country’s economy is rebounding strongly.
During his last address to the nation before he leaves office next week, Akufo-Addo noted that Ghana’s economic growth has returned to a growth trajectory before the COVID-19 pandemic.
According to him, the decision to apply for a loan from the International Monetary Fund in 2023 has gone well, though it has been challenging due to the debt restructuring the government pursued.
“Today, we are witnessing the positive outcomes of this painful yet necessary exercise. The economy is rebounding strongly, our fiscal position is more stable, and our debt sustainability has significantly improved. These developments have provided a solid foundation for sustained growth and development,” said the outgoing Ghanaian leader.
According to the Ministry of Finance, Ghana recorded an average economic growth rate of 6.3 percent in the first three quarters of 2024.
Akufo-Addo assumed the presidency in 2017 and is near the end of his constitutionally two terms of four years each. John Dramani Mahama, who won the presidential election in December 2024, is set to assume office on Jan. 7.