President Nana Addo Dankwa Akufo-Addo has admitted the economy of Ghana is going through some trying times.
He has, however, dismissed concerns that these difficulties amount to a crisis; assuring his audience that the government is on top of the situation.
Speaking to the Ghanaian Community in New York, USA, Mr Akufo-Addo attributed the difficulties in the system to the “dramatic increase in crude oil prices” and the strengthening of the US dollar.
President Akufo-Addo admits that has led to “a significant and rapid depreciation of the cedi” but was quick to add that the Bank of Ghana is fighting the depreciation.
“We have to approach the foreign exchange matter medium to long-term by expanding our supply base, that’s not a crisis…they’re difficulties the system would be able to accommodate…” the President said.
He added that his government will work to find a cure to the situation and future ones.
“It’s a difficult situation, but a difficult situation also require some amount of fortitude and firm action and that’s what we are trying to do at home,” he said.
Meanwhile, back in Ghana, Vice President Mahamudu Bawumia has lauded the achievements of the government so far.
Speaking at the fourth National Policy Summit at the University of Development Studies (UDS) in Tamale Monday, Dr Bawumia listed a number of feats [establishment of the Office of Special Prosecutor and restoration of trainee allowances etc.] he argued would be non-existent without the Akufo-Addo-led administration.
Pres. @NAkufoAddo has only been in office for just 20 months. The government has not finished its agenda but we can say that significant progress has been made on our flagship policies- VP Dr. @MBawumia #NPS18— Ministry of Information (@moigovgh) 24 September 2018
Our government has introduced reforms at the port to improve port efficiency. Among others, we introduced the Paperless operations at the ports and goods can be cleared within 3 days - VP Dr. @MBawumia #NPS18— Ministry of Information (@moigovgh) 24 September 2018
Rural telephony sites for broadband access: The NDC built 78 sites in 8 years. NPP has built 161 sites in 18 months serving 500 communities. We expect to have 200 sites by end of 2018 - Dr. @MBawumia #NPS18— Ministry of Information (@moigovgh) 24 September 2018
What is incontrovertible is that without Pres. @NAkufoAddo, there will be:— Ministry of Information (@moigovgh) 24 September 2018
•No Free SHS
•No restoration of teacher training allowances
•No restoration of nursing training allowances
•No Zongo Development Fund
•No Planting For Food and Jobs#NPS18
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