Mahama Rules Out Third Term
Singapore-During state visit to Singapore, president tells counterpart he can “hold the line” on election-year overspending as Ghana’s economy shows early signs of recovery
President John Dramani Mahama on Thursday reiterated that he will not seek a third term in office and pledged to maintain strict fiscal discipline ahead of Ghana’s 2028 elections, saying his absence from the ballot will make it easier to resist the spending sprees that have driven past economic crises.
Speaking during a bilateral meeting with Singaporean President Tharman Shanmugaratnam on the second day of a three-day state visit, Mahama criticized the recurring practice of incumbent governments loosening fiscal safeguards to attract voters during election seasons. “I will not be a candidate in the next elections, and therefore I can hold the line when it comes to fiscal discipline,” he said.
The president highlighted economic gains since returning to power after a decisive victory in the 2024 polls, citing rapid declines in inflation and interest rates as well as a stronger cedi. He framed fiscal restraint as essential to consolidating those improvements and preventing a repeat of the cyclical overspending that has previously led to economic instability.
Mahama’s remarks directly rebut claims from members of the opposition New Patriotic Party that he plans to seek a third term after his current tenure. He did not provide a detailed fiscal roadmap during the Singapore meeting, but emphasized his commitment to resisting politically motivated, election-year expenditures.
Bilateral talks with President Tharman focused on deepening economic cooperation and attracting investment, part of a broader push by Accra to diversify partnerships and mobilize funding for growth. Ghana and Singapore discussed areas of mutual interest including trade, financial services and technology collaboration, according to officials accompanying Mahama.
Analysts say Mahama’s public vow may help reassure international investors and lenders concerned about Ghana’s fiscal trajectory ahead of the next electoral cycle. Observers will be watching for concrete budgetary measures and policy signals when Ghana presents its next fiscal plans.
Mahama’s state visit continues through the weekend, with further meetings planned aimed at strengthening ties and exploring investment opportunities between the two countries.