President Akufo-Addo has admitted that Ghana is in an economic crisis.
In a pre-recorded address broadcast on Sunday, October 30, 2022, he noted that “We are in a crisis, I do not exaggerate when I say so. I cannot find an example in history when so many malevolent forces have come together at the same time.”
The President said despite the crisis, his administration would turn the crisis into an opportunity.
“But, as we have shown in other circumstances, we shall turn this crisis into an opportunity to resolve not just the short-term, urgent problems, but the long-term structural problems that have bedeviled our economy.”
He urged Ghanaians to see the decision to go to the International Monetary Fund in this light.
He stated that “We have gone to the Fund to repair, in the short term, our public finances, and restore our balance of payments, whilst we continue to work on the medium to long-term structural changes that are at the heart of our goal of constructing a resilient, robust Ghanaian economy.”
He continued “I am able to report to you my fellow Ghanaians that the negotiations to secure a strong IMF Programme which will support the implementation of our Post COVID-19 Programme for Economic Growth & additional funding to support the 2023 Budget & development programme, are going well.
We are determined to secure these arrangements quickly to bring back confidence and relief to Ghanaians. We are working towards reaching a deal with the IMF by the end of the year.
This will give further credence to the measures Government is taking to stabilize and grow the economy, as well as shore up our currency.”
By: Rainbowradioonline.com/Ghana
