The latest report by the International Monetary Fund (IMF) on Ghana reveals that the new John Mahama administration acknowledges the previous Akufo-Addo government’s significant role in stabilising the economy and laying the groundwork to address long-standing vulnerabilities
According to the IMF, the new government has expressed strong support for reforms under the ongoing IMF-supported programme. The Fund stated that “the authorities [Mahama government] see the latter [Akufo-Addo government] as having played a key role in stabilising the economy and in providing a credible anchor to address long-standing vulnerabilities and buttress confidence.”
This revelation comes just days after a heated exchange in Parliament between Majority and Minority Members of Parliament over Ghana’s recent economic gains, including declining inflation and a strengthening cedi.
The opposition National Democratic Congress (NDC) credits Ghana’s recent macroeconomic gains to legacy policies initiated under former President John Mahama. NDC MP Eric Afful pointed to falling inflation, dropping from 21.2% in April to 18.3% in May 2025, alongside a stronger cedi and improved fiscal indicators as evidence of this legacy. He attributed the progress to tight monetary policy, fiscal consolidation, and improved market confidence. However, NPP MP Kojo Oppong Nkrumah challenged these claims, arguing the cedi’s rebound is largely due to short-term interventions, including a 1.4 billion dollar injection from reserves, which he says do not reflect long-term economic strength.
