President Akufo-Addo has assured Ghanaians that the nation has turned the corner in its economic situation.
Ghana is currently subscribed to a three-year-long International Monetary Fund (IMF) programme which will see the injection of $3 billion into the Ghanaian economy to restore confidence in the local market following the country’s debt reaching unsustainable levels.
As of 2022, Ghana’s public debt was 92.4% of GDP.
The government had blamed the Covid-19 pandemic and the ongoing Russia-Ukraine war for the economic downturn.
However, delivering his Christmas Day message, the President stated that things are getting better and he is hopeful with sustained hard work and determination, the country will sail through this quagmire.
“Fellow Ghanaians, I’m particularly glad that our nation has turned the corner following three difficult years we, and indeed the world, have faced. Inflation is being reined in, we’re experiencing a relatively stable exchange rate and growth and our economy is rebounding.”
“We continue to attract investments, domestic and foreign, reinforcing our position as the gateway to Africa and will remain a beacon of democracy, peace and stability in Africa.”
“The country is not yet completely out of the woods, but there is a growing sense of confidence that with hard work and determination, Ghana will make it, and collectively, we will secure our futures,” he said.
Meanwhile, he has urged Ghanaians to reflect on the cardinal principles of Christianity throughout this festive season and beyond.
“The cardinal principles of Christianity, charity, faith, humility, love and reconciliation should guide us in this festive season and beyond,” he said.
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