Restoring Economic Stability: Dr. Edem Segbefia Writes

The National Democratic Congress National Vice Chairman hopeful, Dr. Edem Segbefia, has taken his message of grassroots empowerment and financial sector renewal to the Western Region, spotlighting President John Dramani Mahama’s sweeping reforms designed to restore stability to households, enterprises, and communities.

Addressing party faithful, Dr. Segbefia asserted that the NDC administration, since assuming office in January twenty twenty-five, has arrested macroeconomic volatility and reinvigorated confidence in the financial ecosystem. He described the transformation as a decisive departure from the fragility and unpredictability that characterised the preceding era.

According to Dr. Segbefia, the banking industry he inherited was encumbered by crippling debt, deficient infrastructure, and existential threats of collapse. Today, he argued, the narrative has been rewritten through deliberate policy calibration, with President Mahama earning commendation from stakeholders for stabilising and modernising the sector.

He outlined a catalogue of milestones underpinning the reset: currency appreciation of the cedi against major trading currencies, which reversed years of depreciation and tempered imported inflation; headline inflation declining from elevated levels in December twenty twenty-four to single digits by January twenty twenty-six, with food inflation showing pronounced moderation; and a sharp contraction in Treasury bill rates from above thirty percent to around eleven percent in twenty twenty-five, easing borrowing costs for the private sector. Commercial lending rates, he added, retreated from prior peaks to more accommodative levels by twenty twenty-six.

Further achievements cited include fiscal consolidation that trimmed public debt and lowered the debt-to-GDP ratio, settlement of substantial external obligations to restore sovereign credibility, and accumulation of gross international reserves sufficient to cover multiple months of imports. The banking sector, Dr. Segbefia noted, expanded its asset base, improved capital adequacy, and reduced non-performing loans, while sovereign credit ratings were upgraded by Fitch, Moody’s, and S&P. Policy interventions such as abolishing the betting tax, e-levy, and emissions tax, alongside the establishment of the Ghana Gold Board and the Ghana Accelerated National Reserve Accumulation Policy, were framed as instruments of relief and reserve fortification.

Growth indicators, he stressed, corroborate the turnaround, with GDP expanding at its fastest pace since twenty nineteen and non-oil output registering broad-based momentum. The cumulative effect, he argued, has been restored purchasing power, reduced cost of essentials, and renewed optimism among businesses and households.

“Comrades, when government delivers tangible improvement in livelihoods, our mandate endures,” Dr. Segbefia told supporters. “The impact is first felt at the grassroots. I urge patience, unity, and steadfast support as we execute our national obligation. Our collective sacrifice will not be in vain.”

Author: Dr Edem Segbefia