President Akufo-Addo will address Ghanaians on the current state of the economy tonight at 8PM.
This comes after scores of Ghanaians called on the president and his economic management team to update the country on the way forward in restoring the dwindling economy.
According to a pressure group, OccupyGhana, the country’s economic outlook is nothing to write home about.
They believe that the country’s leadership is in limbo due to soaring inflation and the free fall of the local currency as the country faces a cost-of-living crisis.
Thus, an update from the presidency on the state of the economy and the general affairs of the country could calm some nerves.
In a press statement, the group said, “no one expects the President to physically halt the fall of the cedi or conjure inflation away. However, it is imperative in such times that Ghanaians get the reassurance that their elected leader is doing all he can and that he cares. The cedi is ‘burning’. The Ghanaian economy is in tatters. It is a disaster. Yet we do not see commanding leadership in this matter.”
The country’s local currency is being battered by other foreign currencies while the annual inflation as of September 2022 has increased to 37.2%. A dollar is currently trading at about GH14.
Also, fuel prices have escalated, and transport fares have been revised three times just this year.
This increase in fuel prices and transport fares has translated into an increase in the prices of food goods and services.
Some Ghanaians and lawmakers have urged President Akufo-Addo to dismiss Finance Minister Ken Ofori-Atta because of his poor performance in the midst of this economic crisis.
The President is expected to further address the calls for the dismissal of Finance Minister Ken Ofori-Atta as well as the country’s engagement with the International Monetary Fund, on Sunday.
Source: The Independent Ghana