Just In: Mahama to speak on Ghana’s collapsed economy and the way forward

This was confirmed by Joyce Bawah Mogtari, an aide to the former president, in a Facebook post today October 24, 2022.

Former President John Dramani Mahama is expected to deliver an address on matters concerning the economic woes currently confronting Ghanaians.

This was confirmed by Joyce Bawah Mogtari, an aide to the former president, in a Facebook post today October 24, 2022.

“John Mahama speaks on Ghana’s collapsed economy and the unprecedented hardships sweeping across the land and the way forward on Thursday 27th October at 7 pm,” she wrote on her page.

Ghana’s economy has in recent times witnessed a downturn with the government admitting that the country was facing challenging times.

Many economists have also pointed to the rate of inflation, fuel price hikes, and fast depreciation of the Cedi as the basis for the claim.

The government has, however, blamed the ravages of COVID-19 and the Russia-Ukraine conflict for the country’s

woes.

Amid economic downgrades from rating agencies such as Fitch, Standards and Poor and Moody’s, Ghana has been prevented from accessing the international capital market which has compelled it to initiate contact with the International Monetary Fund for a programme. Ghana is looking at securing a $3 billion facility over a three-year period.

Mahama in his recent commentary on the economy has urged the government to fast-track negotiations with the IMF in order to secure the programme with the Bretton Woods institution quickly.

He added that with the passing of each day, Ghana’s economic situation was getting worse.

“Distressing! Every passing day makes our economic situation worse. Gov’t must work with greater alacrity to lock in a programme with the Fund in order to create a more predictable economic outlook,” John Mahama tweeted on October 4.

The former president also in an October 19 tweet said the economic hardship confronting the country is the worst in thirty years.

He made the remark while reacting to news that a man had died by electrocution on a high-tension pylon near Kasoa.

“I returned from a trip to the sad news of Kakra who electrocuted himself. Levels of hardship in Ghana are dire; the worst in 3 decades. But suicide is never an answer. Even in the darkest night, there’ll come dawn. The sun will rise again. Let’s be each other’s keeper & keep hope alive,” Mahama tweeted.

The anticipated address by John Mahama will be his second major address on the economy in recent times. On May 2, the former president engage with Ghanaians on the topic “Ghana at a Crossroads.”

Source: ghananewsstands

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