Ghana's economy is in great difficulty - Akufo-Addo faces 'reality' | 3News.com

has owned up to reality about the economy of Ghana.

He admitted on Sunday, October 30, when he addressed the nation in an impassioned broadcast, that the economy “is in great difficulty”.

For him, so many regressive factors have concurrently occurred, taking a toll on the economy in an unprecedented manner and that has resulted in the crisis.

But he assured Ghanaians that the situation will be turned around just like it happened in the immediate post-Covid era.

“As we have shown in other circumstances, we shall turn this crisis into an opportunity to resolve not just the short-term, urgent problems, but the long-term structural problems that have bedeviled our economy.”

President Akufo-Addo assures that the bailout being sought from the Fund is “to repair, in the short term, our public finances, and restore our balance of payments, whilst we continue to work on the medium to long-term structural changes that are at the heart of our goal of constructing a resilient, robust Ghanaian economy, and building a Ghana Beyond Aid”.

He added that his is a government that cares and that “we are determined to restore stability to the economy and provide relief”.