Is President Mahama a Financial Wizard? A Surprising Endorsement Sparks Debate!
In a political twist that has many scratching their heads, a leading figure from the United Party (UP), Solomon Owusu, has publicly praised President John Dramani Mahama's economic stewardship. Yes, you read that right. A member of the opposition is giving props to the President's handling of the nation's finances. But before you jump to conclusions, let's delve into the details.
Solomon Owusu, the Communications Director of the UP, made the surprising commendation during an appearance on Accra-based Prime Morning Show on Monday, December 22nd, discussing Economic and Policy Review. According to Owusu, President Mahama has successfully stabilized the Ghanaian economy compared to its condition a year prior. He stated boldly, "So far, I dare say President Mahama has stabilized the economy."
So, what's behind this unexpected praise? Let's look at the data. Ghana's inflation rate has been on a downward trajectory for eleven consecutive months, reaching a low of 6.3% in November 2025. This is the lowest it's been since the country's Consumer Price Index (CPI) was rebased in 2021. To put that in perspective, the rate was a much higher 8.0% in October 2025, and a staggering 23.8% in December 2024, showing a significant improvement over the year.
Furthermore, the exchange rate, often a barometer of economic health, has also exhibited greater stability. The cedi is currently trading at approximately GHS11 to the dollar, a welcome change after periods of rapid depreciation that caused significant concern among businesses and citizens alike. This stability allows businesses to plan more effectively and reduces the burden of imported goods on the average Ghanaian.
Owusu attributed this positive development to what he termed “prudent economic management.” And this is the part most people miss... He specifically highlighted President Mahama's commitment to fiscal responsibility, pointing out that the President has appointed fewer ministers than the 60 he initially projected. This leaner government structure, according to Owusu, demonstrates a commitment to efficiency and cost-effectiveness. He questioned, “Mahama said he would appoint 60 ministers, yet the current number is below 60. What that tells me is that this country could have been managed with fewer ministers. So why have we encouraged having more ministers in our system?” This raises a fundamental question about the size and efficiency of government in Ghana – a question that resonates far beyond the current administration.
But here's where it gets controversial... While the data paints a picture of economic stabilization, it's crucial to remember that statistics can be interpreted in different ways. Some might argue that the lower inflation rate is due to factors beyond the President's control, such as global economic trends or changes in commodity prices. Others might point out that while the exchange rate has stabilized, it's still significantly weaker than it was several years ago.
This raises some important questions for you: Do you agree with Solomon Owusu's assessment that President Mahama has stabilized the economy? Is the reduction in inflation and the stabilization of the exchange rate enough to declare economic success? Or are there other factors that need to be considered? What impact do you feel these economic changes are having on your daily life? We encourage you to share your thoughts and perspectives in the comments below. Let's have a constructive discussion about the state of Ghana's economy!
