Speaking at the 77th Annual New Year School and Conference at the University of Ghana on January 6, 2026, President Mahama said the country had reached a point where it needed to end its repeated return to the IMF for financial support.

“It is my hope that this will be the very last time we will ever go for a bailout from that international monetary institution. It must be the 17th and the last time that Ghana goes for a bailout from the IMF,” he said at the event organised by the School of Continuing and Distance Education.

Ghana secured a 36-month Extended Credit Facility arrangement worth $3 billion in May 2023 after the economy slid into a deep crisis in 2022.

President Mahama said Ghana would continue to engage the IMF through Article 4 consultations and other available instruments, but would not return to any form of bailout programme.

“We will continue our work with the IMF under Article 4 and other instruments that the IMF has. But it will definitely be the last time we go on our knees to beg for a bailout,” he said.

He said the ongoing programme had delivered clear macroeconomic improvements.

According to figures he shared, inflation fell from 23.8 per cent at the end of 2024 to just above five per cent by the end of 2025. Public debt declined from above 66 per cent of GDP to 45 per cent over the same period, while foreign reserves increased from $8.9 billion to $13.8 billion.

President Mahama also referred to the stability of the local currency, describing the cedi as “the best performing in the world for the year 2025”.

The IMF completed its third review of Ghana’s programme in December 2024, reporting generally satisfactory performance and noting that reforms were yielding results. The Fund said economic growth was recovering, inflation was easing, and fiscal and external balances were improving.

President Mahama said his government would maintain fiscal discipline even during the 2028 election year.

“I can assure Ghanaians that we will not relax the current fiscal discipline and efficient management of the economy even in the election year of 2028,” he said.

He described the IMF programme as successful, while stressing that Ghana must now pursue a sustainable economic path without external bailouts.

Addressing the conference on the theme “Building the Ghana We Want Together for Sustainable Development”, President Mahama outlined five areas guiding his administration’s development agenda.

These included economic resilience, human capital development, good governance, environmental stewardship and national inclusion.

Touching on environmental issues, he praised the Minister of Lands and Natural Resources for ongoing efforts against illegal mining, saying there had been visible improvement in water quality.

He cited the Ayensu River, which he said was “the colour of coffee” six months earlier but had now become “the colour of light milo”.

The conference brought together academics, policymakers, traditional and religious leaders and civil society groups to discuss Ghana’s development direction.