Business News of Monday, 25 May 2026

Source: ghanaiantimes.com.gh

'This must be our last IMF bailout' - President Mahama

President John Dramani Mahama President John Dramani Mahama

President John Dramani Mahama over the weekend took his Resetting Ghana Tour to the Savannah Region, where he expressed hope that it would be the last time Ghana sought a bailout from the International Monetary Fund (IMF).

He said the country must manage its affairs prudently to avoid repeatedly going “cap in hand” for external financial assistance.

The President made the remarks during a town hall meeting in Bole on Saturday as part of his two-day tour of the region.

According to him, Ghana’s economy is currently expanding rapidly, and efforts must be made to sustain the momentum after the completion of the country’s three-year Extended Credit Facility programme with the IMF.

In that regard, President Mahama said his administration was implementing the necessary economic reforms to consolidate the gains made since assuming office in 2025.

As part of the tour, the President cut the sod for the construction of the Bole College of Education and a 24-hour economy market in Bole.

The college, which will have a projected capacity of 1,500 students, is expected to improve access to teacher training and higher education in the region.

He described the project as a long-awaited dream, noting that it was conceived during his tenure as Member of Parliament for Bole-Bamboi.

President Mahama also announced plans to establish a Technical and Vocational Education and Training (TVET) Centre of Excellence in Sawla to strengthen technical education in the area.

He explained that the facility would provide opportunities for young people to acquire employable skills and transition into the workforce.

Additionally, he cut the sod for the construction of the Busunu Girls’ Science, Technology, Engineering and Mathematics (STEM) Senior High School and disclosed plans to establish a science and technology university in the region.

He said the government intended to expand technical and vocational education by prioritising the construction of more TVET institutions instead of conventional senior high schools, in line with labour market demands.

On healthcare, the President said the ageing Bole District Hospital, built in the 1970s, would be replaced with a modern 150-bed facility to meet the growing healthcare needs of residents.

He also inspected ongoing works at the Damango District Hospital, which is being upgraded into a regional hospital to serve as the main referral facility for the Savannah Region.

In addition, President Mahama inaugurated an ICT centre in Damango and inspected road projects, including the Sawla-Wa and Bole-Tinga roads.