President Mahama’s Initial 120 Days in Office Praised by Prof Gatsi

Accra: The performance of President John Dramani Mahama in the first 120 days of his current term has been described as 'remarkable' by Professor John Gatsi. President Mahama took office under a US$3 billion loan-supported program with the International Monetary Fund (IMF) aimed at restoring macroeconomic stability and debt sustainability. During this period, the United States Agency for International Development (USAID) withdrew its support, creating a US$156 million funding gap, while the US government imposed a 10% tariff on Ghana.According to Ghana News Agency, Professor Gatsi, a Professor of Finance, stated in an exclusive interview that the government has shown a commitment to restoring the economy to ensure stability and progress. He highlighted the government's agenda, which includes good governance, youth development, economic entrepreneurship, institutional reforms, and constitutional reform, being rolled out progressively.Prof Gatsi commended the government for its moderate approach to expendit ure and focus on value for money, which he believes will create a stable macroeconomic environment to foster business development. He cited the recent launch of the Ghana Medical Trust Fund (Mahama Cares) as an example of initiatives addressing critical health needs, attributing the President's governance experience to his current performance.Prof Gatsi, who is the Dean of the University of Cape Coast (UCC) Business School, encouraged the government to maintain momentum in implementing initiatives across multiple sectors. He emphasized the importance of sustaining a stable economic environment to ensure benefits such as a resilient economy, lower inflation, and reduced interest rates, which will enhance business development.He expressed confidence that maintaining the current 'standard' would result in benefits for citizens, including export progress, skills development for young people, and improved governance through transparency and accountability. The Ghana Union of Traders' Associations (GUTA) has al so praised the government's efforts in stabilizing the cedi against major trading currencies since January 2025.The Bank of Ghana reported that as of May 6, 2025, the exchange rates for the US dollar, British pound, and euro were significantly more stable compared to January 6, 2025. GUTA noted that this stability has provided some relief and confidence to the economy, allowing the business community to recover some lost capital due to previous depreciation and exchange rate pressures.GUTA stated that if these prudent measures are sustained, they could lead to full economic recovery, increased business competitiveness, enhanced productivity, and alleviation of the high cost of living in the country. President Mahama, who previously served as Ghana's President from 2012 to 2017, returned to office on January 7, 2025, with a commitment to fulfilling 26 itemized promises detailed in an 11-page document as part of his social contract within the first 120 days.