Akufo-Addo Responds To Critics: The Hardship Is Global; Ghana Is Not In This Alone

Akufo-Addo Responds To Critics: The Hardship Is Global; Ghana Is Not In This Alone

  • President Akufo-Addo has defended the performance of Ghana's economy under his watch, saying economies across the world were facing challenges.
  • He made the comments at the 92nd speech and prize-giving day of St Augustine's College in Cape Coast last Saturday.
  • He assured that, together with his cabinet, firm policies have been drawn to rebound Ghana's economy to its glory days.

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President Nana Akufo-Addo has responded to widespread complaints about Ghana’s challenging economy, saying economies worldwide were faced with similar challenges.

Commenting on the matter that continues to dominate public discourse on Saturday, March 19, 2022, the president assured that his team was taking steps to return Ghana’s economy to its glory days.

Nana Akufo-Addo
President Nana Akufo-Addo has assured that Ghana's economy will rebound soon. Source: Getty Images
Source: Getty Images
“Ghana is not the only country faced with extraordinary increases in global freight rates, strong inflationary pressures, dramatically rising fuel prices, unprecedented volatility of stock markets, and tighter global financing conditions. These are global phenomena,” the president said when he addressed the 92nd Speech and Prize-Giving Day of St Augustine’s College in Cape Coast.

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President Nana Akufo-Addo said “sooner, rather than later” Ghana’s economy will rebound, citing the GH¢100 billion Ghana CARES Obaatanpa Programme as one of the plans to return the economy on the path of progress.

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He noted that Ghana's macroeconomic indicators have been impressive despite the current challenges that the Covid-19 pandemic has triggered.

“We need to undertake the difficult but necessary fiscal and other measures that will enable us to maintain the 2021 and higher rates of growth in the immediate years ahead of us, to develop and strengthen our economy, and help improve the living standards of us all,” the president said.

Nana Akufo-Addo and his cabinet, on Sunday, March 20, 2022, completed the first quarterly retreat at the Peduase Lodge in Aburi.

Strategies to fight the depreciating cedi, ensure expenditure discipline, hold the spiraling inflation, and reduce increasing fuel cost were topical at the retreat.

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Economics wizard Bawumia mocked for going into hiding while Ghana’s economy crumbles

Time For ‘Economics Wizard’ Bawumia To Demonstrate Leadership But He Has Gone Comatose – Minority Mocks

The Minority MPs are mocking Vice President, Dr Mahamudu Bawumia, saying he has gone into a deep sleep when his often-hyped economics wizardry is needed to solve current economic challenges.

At a press conference on Friday, March 18, 2022, Ranking Member on the Energy Committee in Parliament, John Jinapor, blamed the vice president for leading President Nana Akufo-Addo’s Economic Management Team to failure.

“The economic management team under Dr Bawumia has failed woefully…the vice president has gone into comatose. He is nowhere to be found. This is the time he has to demonstrate leadership. This is the time government must show it cares for the people. All we hear government do is whining and whining and whining,” he said in a video sighted by YEN.com.gh.

Source: YEN.com.gh

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