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“The Akufo-Addo government has not thrown its hands up in despair at this development. We are determined to bring relief to the Ghanaian people, and return the economy back to the high rates of growth that characterised the management of our economy in the three (3) years preceding the COVID outbreak in 2020.”
These were the words of the President of the Republic, Nana Addo Dankwa Akufo-Addo, when he delivered an address at the opening of the 12th Biennial and 50th Golden Conference of the Methodist Church of Ghana.
According to the President, his goal, since coming into office, has been to help improve the living standards of the Ghanaian people.
“Every policy initiative, whether it is the Free Senior High School policy, the programme for Planting for Food and Jobs or the One-District-One-Factory initiative, has been implemented with the well-being of the Ghanaian at heart,” he said.
President Akufo-Addo noted, however, that, before the onset of the COVID-19 pandemic, Ghana had one of the fastest growing economies not just in Africa, but across the world.
“However, the ravages of the pandemic, worsened by the effects of Russia’s invasion of Ukraine, have led to spiraling freight charges, rising fuel costs, high food prices, steep inflationary spikes and widespread business failures.
“I am fully aware that these are very difficult times for us in Ghana, just as they are for most people in the world, cold comfort as that may be,” he said.
One of the ways towards bringing the economy back on track, the President said, is the approach to the International Monetary Fund, which he described as an important step.
“Other steps will be taken, in particular, to deal with the unacceptable depreciation of the cedi. Reining in inflation, by bringing down food prices, is a major preoccupation of the Government, and this season’s emerging, successful harvest will assist us achieve this objective, together with other policies that are being put in place,” he added.
