President Nana Addo Dankwa Akufo-Addo is slated to address the nation about the state of the economy on Sunday, October 30, 2022.
Ghana is currently in the grip of severe economic catastrophe. Since the beginning of the year, its currency, the cedi, has lost 52% of its value against the dollar, and annual inflation has risen to 37%.
The country is also negotiating a $3 billion (£2.6 billion) bailout with the International Monetary Fund in the goal of gaining access to international capital markets.
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Traders shut down their stores for three days last week in protest of the economic situation. On Tuesday (October 25, 2022), some Members of Parliament from the President’s New Patriotic Party demanded the resignation of Finance Minister Ken Ofori-Atta and his Deputy, Charles Adu Boahen, due to the status of the economy and the depreciating cedi.
Mr Ofori-Atta, Finance Minister since 2017, is in charge of negotiations with the International Monetary Fund (IMF), and President Akufo-Addo has promised MPs that their concerns will be addressed following the 2023 budget reading and the conclusion of the ongoing IMF support talks.
Following a plea from President Akufo-Addo, MPs declared today that they will postpone their push for Mr Ofori-Atta’s dismissal until after the IMF negotiations and the budget reading.
Meanwhile, former President John Dramani Mahama will address the nation today (Thursday, October 27, 2022) on the country’s present economic woes.
The lecture, themed “BUILDING THE GHANA WE WANT,” is scheduled at 7 p.m. in the UPSA Auditorium in Madina.
SOURCE: GRAPHICONLINE
