Ghana’s Finance Minister, Dr. Cassiel Ato Baah Forson, has projected a strong economic recovery under President John Dramani Mahama, citing a massive drop in treasury bill rates as a key indicator of improving financial stability. Just 50 days into Mahama’s administration, the country is already seeing signs of an economic reset—a vision the president promised and is now delivering.
In a short write up he shared on social media, Dr. Forson described the decline in T-bill rates as “historic” and a direct result of President Mahama’s Resetting Ghana Agenda. He emphasized that the government’s decisive policies and renewed investor confidence have driven down borrowing costs, making way for sustainable economic growth.
“The numbers speak for themselves,” Dr. Forson stated. “Since President Mahama assumed office, treasury bill rates have dropped significantly, easing pressure on government borrowing and setting the stage for a more stable economy.”
According to data from the Bank of Ghana, the decline in treasury bill rates has been remarkable:
• 91-day T-bill: Dropped from 28.34% to 20.79%, a 760 basis points reduction.
• 182-day T-bill: Fell from 28.96% to 22.98%, cutting 600 basis points.
• 364-day T-bill: Declined from 30.17% to 22.69%, a sharp 750 basis points drop.
Dr. Forson noted that this rapid decline in rates is a sign of growing confidence in the Mahama administration’s economic policies. Lower treasury bill rates mean reduced borrowing costs for the government, which could translate into more resources for social programs, infrastructure, and job creation.
The Mahama Effect: Resetting Ghana’s Economy
The Finance Minister praised President Mahama for swiftly implementing policies that are restoring financial stability and positioning Ghana for long-term growth. He highlighted the government’s commitment to restructuring the economy, managing debt effectively, and ensuring that macroeconomic indicators continue to improve.
“This is just the beginning. President Mahama’s Resetting Ghana Agenda is already yielding results, and we are confident that in the coming months, we will see even more progress,” Dr. Forson assured Ghanaians.
