President Nana Addo Dankwa Akufo-Addo has been informed by Minority Leader Dr. Cassiel Ato Forson that Ghanaians are experiencing excruciating pain as a result of economic difficulties.
He asserted that Ghana's economy is insolvent.
Following the President's state of the nation address on March 8, the Ajumako-Enyan-Essiam legislator made a statement in Parliament: "Ghanaians are going through unbearable hardships and excruciating pains." The state of our economy hasn't been this bad in decades. In his address, President Nana Addo Dankwa Akufo-Addo reiterated that Ghana's economy was doing well prior to the outbreak of the Covid-19 pandemic and the war between Russia and Ukraine. Ghana's economy is bankrupt or insolvent, and we are currently unable to repay our creditors.
He claimed that the Managing Director of the International Monetary Fund (IMF) has acknowledged this fact.
Mr. Akufo-Addo stated, "I have said, and the Managing Director of the IMF has also said, our economy was doing well until covid 19, and the Russia-Ukraine war." This was in reference to the political advantage that some individuals are seeking to gain.
He had previously stated that when he took office on January 7, 2017, he was given a severely troubled economy with the lowest rate of growth in over two decades.
But the government, according to him, has been able to turn things around thanks to hard work, common sense, and creativity. For the years 2017, 2018, and 2019, just before COVID-19 hit, the economy was one of the fastest growing in Africa and the world, growing at a rate of 7% per year in gross domestic product (GDP).
He said, "We were the best place to do business in West Africa, and, in 2021, we were described as the most attractive destination for investment in West Africa," when he spoke at the 66th Independence Day celebration on March 6.
“During the next twenty-two (22) months of my mandate, my primary focus will be on bringing our economy back to the rapid growth it was prior to COVID and the Russian invasion of Ukraine. I am making this solemn promise to you, my fellow Ghanaians, and I am determined to keep it. Before I sit down, I need to illuminate you that, in satisfaction of the declaration I made finally year's Organizers' Day Festivity, I will, on Tuesday, fourteenth Walk 2023, give public distinctions on certain residents of our country, who separated themselves in the battle against the pandemic of Coronavirus. They gained worldwide acclaim for Mother Ghana and contributed to the preservation of our population through their actions.
“I will also, on that day, express the nation's gratitude to the legal team that was tasked with ensuring that the maritime boundary dispute with Ghana's immediate, western neighbor, the Republic of Côte d'Ivoire, ended in Ghana's favor and that our western maritime resources, including their potential oil and gas reserves, remained legitimately in our possession.
See also Hopeson Adorye's bombshell: "I am sure we all saw the three (3) helicopters belonging to the Police Service joining this morning's celebration. Alan called to tell me there was nothing wrong with my comments about Northerners." The Police Department is utilizing helicopters for the first time in our nation's history to increase operational effectiveness.
"I assure the officers, men, and women of the Service of the Government of the continued support in helping them to effectively discharge their mandate, and the acquisition of these helicopters is to honor the promise I made at the 2019 end of year Police WASSA."