President Akufo-Addo has conveyed cautious optimism in his Christmas address, assuring Ghanaians that the nation has made significant strides in rectifying its economic trajectory.
The President highlighted the ongoing three-year IMF program, injecting a substantial $3 billion into the economy to restore confidence amidst concerns about unsustainable debt levels.
“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 stated.
Ghana’s fiscal landscape, burdened with a public debt representing 92.4% of GDP in 2022, has been attributed to the dual impact of the COVID-19 pandemic and the ongoing Russia-Ukraine conflict.
Despite acknowledging that challenges persist, the President expressed confidence in Ghana’s collective ability to overcome obstacles through sustained hard work and determination.
In his Christmas Day address on Monday, the President gave a candid appraisal of Ghana’s economic trajectory stating, “When you look at where Ghana’s economy was a year or two years ago and you look at the macro-economic numbers now, like inflation, you may come to accept that things have improved.”
“I’m delighted 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.”
As Ghana navigates this economic juncture, President Akufo-Addo’s message echoes a sentiment of resilience and hope, underscoring the nation’s commitment to securing its economic future.
The President, in his Christmas address, urged Ghanaians to reflect on Christian principles during the festive season, emphasizing the guiding values of charity, faith, humility, love, and reconciliation.