President John Mahama has underlined Ghana’s dedication to inclusive economic growth and responsible debt management, highlighting the nation’s continuous efforts to improve fiscal stability and build a prosperous future for all Ghanaians.
President Mahama emphasized the value of a united African front in tackling debt issues and promoting equitable global financial solutions while speaking at an African Union Conference on Debt in Lomé, Togo.
“Ghana, under my leadership, is committed to and already rolling out policies to rebuild its fiscal buffers, strengthen institutions, and promote inclusive growth.” said President Mahama.
He emphasized his government’s dedication to a transformation plan that places a high priority on long-term economic stability and intergenerational advancement, while acknowledging the possible effects of budgetary changes on social security programs.
“In Ghana, we are prioritising value-added agriculture, renewable energy, and digital infrastructure—all sectors that yield multiplier effects in jobs, exports, and innovation,” President Mahama explained.
He listed the main tenets of Ghana’s “Reset Agenda,” which aims to achieve inclusive and sustainable development: safeguarding investments in rural development, education, and youth empowerment; guaranteeing that all Ghanaians can take part in and profit from the country’s economic advancement; improving debt transparency by establishing an independent fiscal council; encouraging accountability and well-informed decision-making in the management of public finances; extending the function of the Ghana Infrastructure Investment Fund to draw in private capital; and enabling strategic investments in vital infrastructure to spur economic growth and job creation.
The African Union Commission was thanked by President Mahama for organizing the High-Level Conference.
A crucial call to action, he acknowledged the conference’s topic, “Africa’s Public Debt Management Agenda in Restoring and Safeguarding Debt Sustainability.”
“This is not just a technical theme; it is a call to confront one of the most defining challenges of our generation,” he stated.
President Mahama called on African countries to unite in support of prompt, equitable, and transparent debt restructuring mechanisms at the 2025 G20 Summit.
He emphasized the need for more accountability and comparability in debt management procedures as well as the need for uniform debt transparency standards throughout the African Union.
In order to promote financial integration throughout the continent, encourage regional trade, and lessen dependency on foreign exchange, Mr. Mahama also called for the Pan African Payment and Settlement System (PAPSS) and the African Monetary Institute to be fully operationalized.
Source: newsthemegh.com