Ghanaians are being urged by President Akufo-Addo to search for a bright spot in the gloomy economic situation.
He believes that despite the country’s problems, the government has ensured the supply of necessities to prevent things from getting worse.
In Adaklu, in the Volta Region, during the 66th-anniversary commemoration of Independence Day, he made this statement.
We all see the images around the world, here in Ghana, we’ve not had any fuel queues, we’ve not suffered shortages of food and essential items, or the catastrophe of dumsor. Undoubtedly, major global developments have harmed our domestic economic performance.”
We’ve witnessed historic heights in global inflation and food prices. Rising global interests rate triggered by the tightening of monetary policy of Central banks across several advanced economies to tame rising inflation and energy crisis with crude oil prices reaching unprecedented heights at one point above $120 a barrel.”
Ghana is presently asking the International Monetary Fund (IMF) for a bailout in order to recover its economy despite growing hardship, rising living costs, and a depreciating cedi.
President Akufo Addo has assured Ghanaians that his government is committed to finding solutions to the issues.
Ghana became the first nation in sub-Saharan Africa to achieve independence on March 6, 1957, ending 83 years of British colonial control.