Economy Remains Resilient Despite External Shocks, Says President Mahama

Tamale: President John Dramani Mahama has reaffirmed the government's commitment to sustaining macroeconomic stability despite external pressures, including rising fuel prices and global supply disruptions. Speaking at a 'Resetting Ghana' forum at the University for Development Studies in Tamale, he emphasized the economy's resilience, citing relative currency stability and a decline in inflation as evidence of prudent management. Inflation has reportedly fallen from above 24 percent to below 4 percent, a trend attributed to fiscal discipline and measures to contain petroleum price shocks.

According to Ghana Web, the President also addressed Ghana's limited access to international capital markets following its debt default, highlighting the government's ongoing efforts to finance critical development projects using domestic resources. He noted, 'Even after the debt default cut off access to international markets, we sustained key interventions through domestic mobilisation, demonstrating the effectiveness of deploying our own resources.' The forum, themed 'Accounting to the People', provided a platform for government officials to outline policy achievements and engage citizens on development priorities, including infrastructure, energy, and job creation.

Northern Regional Minister, Ali Adolf John, discussed persistent development challenges such as infrastructure deficits, unemployment, and limited access to water and sanitation. He revealed that approximately 32.1 percent of residents lack access to potable water, while only 10 percent have improved sanitation facilities. To address these water shortages, 76 boreholes and 125 mechanised systems have been constructed over the past year, and the Ghana Water Company Limited has increased production capacity from 28,000 to 40,000 cubic metres per day. However, he called for expedited work on the Yapei-Tamale water project.

In healthcare, 34 CHPS compounds have been built and equipped to strengthen primary care delivery. In education, 121 contracts have been awarded for infrastructure development, alongside initiatives to improve academic performance. Regarding infrastructure, only 19 percent of the region's estimated 7,000km road network is in good condition, with over 900km currently under construction under initiatives like the District Roads Improvement Programme.

Efforts to tackle youth unemployment include the training of 3,331 apprentices under the National Apprenticeship Programme and support for 1,005 beneficiaries through the Adwumawura Programme. Traditional authorities, represented by Zangbalun Lana Naa Dr Jacob Mahama on behalf of Yaa-Naa Abukari Mahama II, commended government interventions but urged accelerated action on water supply challenges in Tamale and Yendi, describing access to clean water as critical to public health and economic activity.