President Nana Akufo-Addo has said Ghana is not the only country facing economic hardships in recent times.
The President has blamed the impact of Covid-19 for causing the major economic challenges globally.
“Our nation, and indeed every country on the face of the planet, is going through challenges brought forth largely by COVID-19.
“Ghana is not the only country faced with extraordinary increases in global freight rates, stringent inflationary pressures, dramatically rising fuel prices, unprecedented volatility in stock markets, and tighter global financing conditions. These are global phenomena.”
These were the words of President Nana Addo Dankwa Akufo-Addo when he joined once and current scholars ofSt. Augustine’s College to mark the academy’s 92nd Speech and Prize- giving Day on Saturday, March 19, 2022.
According to him, the challenges facing the country aren’t peculiar to Ghana as numerous other nations across the globe are going through the same.
He said Ghana will soon be out of the extremity with the perpetration of the Ghana Coronavirus Alleviation and Revitalisation of Enterprises Support (CARES) Programme.
He disclosed that the government is completely apprehensive of the profitable rigors in the country adding that the government is taking the stylish measures to save the frugality from collapsing adding that the government has come under serious difficulty.
“I am certain that sooner rather than later, our economy, through the implementation of the government’s GH¢100 billion Ghana CARES Obaatanpa programme, would rebound from the ravages of the pandemic, bringing in its wake stability, development, progress, and prosperity for all Ghanaians,” he stated.
Still, the Nonage has advised that in the midst of the rigors in the country and the worrying debt/ GDP rate of the country, the government should seek an IMF intervention.
Also, the Nonage called for the abdication of Vice PresidentDr. Mahamudu Bawumia over the profitable rigors in the country due to the deprecation of the original currency against major trading currencies.
John Jinapor, the Member of Parliament for Yapei-Kusawgu, called for the immediate abdication of Dr. Bawumia as the head of the Economic Management Team for the bad operation of the frugality.