President Akufo-Addo is urging Ghanaians to look for a silver lining in the dark cloud of economic hardship.
He thinks that despite the nation’s difficulties, the administration has secured the supply of essential goods to stop the situation from worsening.
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He said this during the 66th-anniversary celebration of Independence Day in Adaklu, in the Volta Region.
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.”
In the midst of worsening hardship, rising living expenses, and a depreciating cedi, Ghana is currently requesting a bailout from the International Monetary Fund (IMF) for an economic recovery.
Ghanaians have been reassured by President Akufo Addo of his administration’s commitment to finding solutions to the problems.
After 83 years of British colonial rule, Ghana achieved independence on March 6, 1957, becoming the first country in sub-Saharan Africa to do so.