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THE BABYLONS HELD US CAPTIVE BUT WE’LL RISE AGAIN IN 2023 — Akufo Addo

In his Christmas Eve message to the people of Ghana, President Akufo Addo said, “Over the last three years, we have had our own captivity-in-Babylon moments.”

He did say, “I am glad that despite everything, we are starting to get out of the problems. This gives me hope that with hard work, dedication, and continued wisdom in running our country’s affairs, we will rise up again.”

This year, Ghana’s economy has been shaky, so the country turned to an IMF program for help.

As part of its plan to save the economy, the government also set up a debt exchange program.

The terms of the domestic debt exchange program were recently changed, and the end date was moved from the end of this year to early next year.

In a press release from the ministry of finance dated Saturday, December 24, 2022, it said, “The government today announces its decision to extend the expiration date of the invitation from Friday, December 30, 2022, at 4 pm (GMT), to Monday, January 16, 2023, at 4 pm.”

“The settlement date for the invitation is now expected to be Tuesday, January 24, 2023, or as soon as possible after that, but no later than the Longstop Date, which is now set for Tuesday, January 31, 2023, unless the government extends it further in accordance with the invitation,” the ministry said.

“The date of the announcement is now likely to be on or around January 17, 2023,” the statement said.

But in spite of all these, President Akufo Addo is hopeful that Ghana’s economy would bounce back stronger in the pending year, ceteris paribus!

 

 

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