President John Dramani Mahama has highlighted Ghana’s economic recovery as a model for Africa and the Global South during the Accra Reset Davos Convening, held on the sidelines of the World Economic Forum (WEF) Annual Meeting.
Speaking on Thursday, January 22, at the forum in Davos, Switzerland, President Mahama said Ghana has rebounded from a debt-distressed crisis to a more stable economy, citing single-digit inflation, a stronger currency, and improved business confidence as key indicators of the turnaround.
“In my first year of being back in office, we’ve shown that democracy works and that change is possible when leadership is focused and accountable to the people. From a debt-distressed, crisis-ridden economy, we’ve achieved an impressive turnaround with a stable macroeconomy characterised by single-digit inflation, a strengthened currency, and increased business confidence,” he said.
President Mahama attributed the progress to fiscal discipline, a reduced size of government, reforms to curb corruption, and debt renegotiation.
However, he stressed that Ghana’s success alone is not enough, urging African nations to collaborate and replicate the gains across the continent.
“Here’s what keeps me up at night: Ghana’s success alone is not enough. However admirable Ghana’s turnaround story is, we cannot be a jewel in the dirt. We must work together as Africa. We must knit together the patchwork of success stories. And that is why we are here in Davos today: to take what’s working across many countries in Africa and the Global South, and scale it up across other countries. To move from resetting one country to resetting the entire development model for the Global South,” he added.
Source:Fiilafmonline/CitiNews
