President Nana Addo Dankwa Akufo-Addo has announced that Ghana’s economy is in crisis.
Disclosing this while addressing the nation on Sunday about the country’s economic challenges, which have forced the government to seek support from the International Monetary Fund (IMF). He said, “so many malevolent forces” have come together at the same time to cause the current economic turmoil bedevilling the country.
“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 is however hopeful that Ghana would bounce back from its economic predicament.
Ghana’s currency, the cedi has depreciated astronomically against major trading currencies especially the cedi since the beginning of the year.
Fuel prices continue to escalate with no hope of stability any time soon, and inflation also keeps soaring with no end in sight.
President Akufo-Addo is hopeful that the IMF programme will be complete by the end of this year.
