Former President, John Dramani Mahama will address the nation on the prevailing economic situation on Thursday, October 27. 

An aide to the former president, Joyce Bawa Mogtari announced in a tweet on Monday. 

According to the tweet, Mr Mahama’s address will also provide some solutions to the economic downturn.

“John Mahama speaks on Ghana’s collapsed economy and the unprecedented hardships sweeping across the land and the way forward on Thursday 27th October at 7pm,” she tweeted. 

Currently, the Ghana Cedi has been cited by a Bloomberg report as the worst-performing against the dollar worldwide.

The local currency also lost further grounds Friday morning to trade at ¢14.70 to the dollar, quotations from the forex bureaus indicate.

The free fall of the local currency is having adverse effects on importers who rely on the dollar to trade.

Already, Oil Marketing Companies (OMCs) have also increased the prices of petroleum products at the pumps, with a litre of petrol going for GH¢13.10, from the previous price of GH¢11.10, representing about 16% increase.

On the other hand, the price of diesel per litre has shot up to about GH¢15.99, from the previous price of GH¢13.90. This is about a 12% increment.

This crisis has led to many calling on the government to act quickly to cushion the public.