“Ghana’s economy is in a near state of collapse” – Mahama

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Following his tour to the Savanna, Northern, and Upper West Regions, former president John Dramani Mahama claimed that under President Nana Akufo-Addo, poverty has gotten worse in the nation.

It’s unclear what Mr. Mahama heard and observed when visiting these three areas, but he said in a Facebook post that the poverty has gotten worse because of the tremendous inflation and unpredictability of prices.

According to him, the NDC, which he led as the party’s nominee in the 2016 election, has handled the economy more skillfully.

Read the full post by John Mahama below:

Government officials have acknowledged that Ghana’s economy is experiencing “great difficulty.”
President Akufo-Addo said the following in his Sunday, October 30, 2022, economic speech to the nation “The budget drawn for the 2022 fiscal year has been thrown out of gear, disrupting our balance of payments and debt sustainability, and further exposing the structural weaknesses of our economy”, he told Ghanaians in a national address on Sunday, 30 October 2022.

“We are in a crisis”, he stressed, adding: “I do not exaggerate when I say so”.

“I am unable to identify a point in history when such a confluence of evil forces has occurred.
However, as we have demonstrated in prior situations, we will take advantage of this crisis to address both the immediate, pressing issues and the structural issues that have plagued our economy for a long time, according to Nana Akufo-Addo.

He said that the negotiations are progressing and that the government’s choice to ask the IMF for assistance must be seen in the context of the challenges the nation is facing.
Ghana is asking the IMF for a $3 billion bailout.

Source: Ghanatodayonline.com

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