Ghana’s economic stability praised, but Sustainability remains the real test – Victoria Bright
Private legal practitioner Victoria Bright has commended Ghana’s progress in stabilizing its economy, noting that the country has pivoted from crisis to relative stability. Her remarks followed President Akufo-Addo’s 2026 State of the Nation Address (SONA), which highlighted improvements in key macroeconomic indicators.
Speaking on the JoyNews AM Show, Ms Bright described the administration’s first year in office as one focused on fiscal discipline and restoring investor confidence. “I think, as we have heard since the SONA was read out by the President, it’s a stabilisation narrative,” she said.
Ms Bright pointed to several indicators as evidence of progress: a stronger cedi, reduced debt ratios compared to previous levels, higher foreign reserves, and lower inflation. She also highlighted growth in gold exports and noted that proposed reforms in the cocoa sector could further strengthen Ghana’s economic outlook.
“It’s undeniable that Ghana has a stronger currency, we have lower debt ratios compared to what we had before, we also have higher reserves, and lower inflation. Gold exports are doing well, and there are some cocoa sector reforms being proposed,” she explained.
Reflecting on Ghana’s recent economic challenges, Ms Bright acknowledged that the country had previously been in “deep waters,” a situation that eroded credibility and weakened investor confidence. She argued that the government’s primary focus in its first year has been repairing that damage through macroeconomic consolidation.
“The first year of the President’s administration has been anchored on macroeconomic consolidation and a restoration of our credibility,” she noted. “We found ourselves in some deep waters, and it naturally eroded our credibility and our attractiveness as an investment destination.”
While acknowledging the improved figures, Ms Bright cautioned that the real test lies in sustaining the progress. She questioned whether the current stability is structural or merely cyclical, warning that favourable commodity prices and debt restructuring may only provide temporary relief.
“The test really is whether this is cyclical, whether this is something that is going to stay as a new trajectory of genuine fiscal discipline or whether we are just being given a temporary breathing space from the debt restructuring and the current favourable commodity prices, which may change soon,” she said.
For Ms Bright, the ultimate measure of success will be whether improved macroeconomic indicators translate into tangible benefits for citizens, particularly young people. She stressed that stability must lead to jobs, opportunities, and better living standards.
“One of the big tests of the President’s administration is whether they can translate these significantly improved numbers into opportunities for the youth, the next generation, and whether we can also begin to feel some of these things in our pocket,” she added.
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