Speaking at the launch of the Ghana Cedi Heritage Series at the Bank of Ghana, President Mahama explained that the new programme is designed to build an economy that produces more of what it consumes, processes more of what it grows, and earns more from what it exports to the world.

“Our responsibility now is to give that resilience a firmer economic foundation, and this is central to our new economy program, which anchors the 2027 budget.

The Minister of Finance will present to Parliament later today.

The new economy program is a $10 billion four-year program aimed to transform the very structure of the Ghanaian economy,” the President said. 

“We are working towards an economy that produces more of what we consume, it processes more of what we grow, and earns more from what we export to the world.

When Ghanaian farms supply our markets, and Ghanaian factories turn our resources into finished products, we create jobs locally and reduce the need to spend scarce foreign exchange on goods that we can produce competitively ourselves”. 

The President noted that the launch of the new currency notes provided an opportunity to reflect on the nation’s economic resilience and future.

“The Cedi has travelled with us through difficult seasons. It has borne the pressures of our economy and the uncertainties that have tested our businesses and households. Yet it remains an enduring expression of our economic sovereignty,” he said.

He explained that the New Economy Programme is central to giving the currency a firmer economic foundation.

“When Ghanaian farms supply our markets and Ghanaian factories turn our resources into finished products, we create jobs locally and reduce the need to spend scarce foreign exchange on goods that we can produce competitively ourselves,” he stated.

The President emphasised the clear link between the economic programme and the strength of the Cedi, noting that expanding and diversifying exports would bring in more foreign exchange, while producing more at home would reduce dependence on imports.

He added that these measures, combined with disciplined public finance and credible monetary policies, would create the conditions for a stronger, more stable currency better able to withstand global shocks.

“That is the future my government is determined to build.

For the trader, it should mean greater certainty when ordering their next consignment of supplies.

For the manufacturer, it should give greater confidence when planning their production.

For the family, it must give greater confidence that income and savings will meet their needs,” he added.

“The link to the cedi is clear:

expanding and diversifying our exports can bring in more foreign exchange.

Producing more at home can reduce our dependence on imports.

Together with disciplined public finance and credible monetary policies.

These measures will help create the conditions for a stronger, more stable city, better able to withstand any global shocks.

That is the future my government is determined to build.

For the trader, it should mean greater certainty when ordering their next consignment of supplies.

For the manufacturer, it should give greater confidence when planning their production.

For the family, it must give greater confidence that income and savings will meet their needs.

The strength of our currency must be felt in the everyday lives of our people.

I am confident in the cedi’s future because I am confident in the productive capacity of the Ghanaian people.

As we expand that capacity through the new economy program, we will strengthen the foundations of our currency”.

The Minister of Finance, Dr Cassiel Ato Forson, is expected to present the 2027 Budget and Economic Policy to Parliament later today, which will detail the government’s economic plans for the coming year.