Accra: President John Dramani Mahama held a highly productive meeting on Friday with Mr. Alex Soros, Chairman of the Board of Directors of the Open Society Foundations (OSF). The discussion centred on Ghana’s notable progress in economic recovery, democratic governance, and regional stability.
According to African Press Organization, President Mahama took the opportunity to brief Mr. Soros on the key policy measures driving Ghana’s economic revival and the notable progress being made. He highlighted Ghana’s reputation for democratic governance, noting the peaceful transitions under its 33-year-old Fourth Republican Constitution. The President emphasized the success of nine elections and several peaceful changes of government from one party to another.
On the economic front, President Mahama stated that Ghana’s economy is recovering rapidly as a result of bold fiscal and monetary policies supported by robust governance principles. He pointed out the 42% appreciation of the Ghana Cedi and a significant decline in the debt-to-GDP ratio, with a government target of single-digit inflation in the coming months.
The President acknowledged past challenges with investor confidence due to governance issues and weakened institutions. He reassured Mr. Soros of his administration’s commitment to non-interference in corruption-related cases and the implementation of strict disciplinary measures for all appointees. President Mahama referenced the Operation Recover All the Loot (ORAL) initiative aimed at recovering state assets and pursuing accountability.
Addressing relations with the Sahelian countries – Mali, Burkina Faso, and Niger – President Mahama assured Mr. Soros of positive progress in regional efforts. He discussed visits to these countries to establish continuous communication and dialogue, noting a recent change in the mood towards rapprochement between ECOWAS and the three nations. Ongoing discussions prioritize the free movement of people and goods and encourage transit trade.
Mr. Alex Soros congratulated President Mahama on his re-election victory and praised his leadership. He explained that his visit to Ghana was part of activities marking the 50th anniversary of ECOWAS. Mr. Soros expressed the Open Society Foundations’ interest in exploring partnerships and support for regional integration efforts, highlighting OSF’s historical role in championing ECOWAS integration and achievements like visa-free travel. Besides his role at OSF, Mr. Soros also serves on the investment committee for the Soros Fund Management.