Mahama To Speak On Ghana's 'Collapsed' Economy On October 27 | General News

Former President John Dramani Mahama is predicted to ship an deal with on issues in regards to the financial woes at the moment confronting Ghanaians.

This was confirmed by Joyce Bawah Mogtari, an aide to the previous president, in a Facebook submit at present October 24, 2022.

“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 7 pm,” she wrote on her web page.

Ghana's financial system has in current occasions witnessed a downturn with the government admitting that the nation was dealing with difficult occasions.

Many economists have additionally pointed to the speed of inflation, gas worth hikes, and quick depreciation of the Cedi as the premise for the declare.

The government has, nonetheless, blamed the ravages of COVID-19 and the Russia-Ukraine battle for the nation's woes.

Amid financial downgrades from ranking businesses reminiscent of Fitch, Standards and Poor and Moody's, Ghana has been prevented from accessing the worldwide capital market which has compelled it to provoke contact with the International Monetary Fund for a programme. Ghana is securing a $3 billion facility over a three-year interval.

Mahama in his current commentary on the financial system has urged the government to fast-track negotiations with the IMF with a view to safe this system with the Bretton Woods establishment rapidly.

He added that with the passing of every day, Ghana's financial scenario was getting worse.

“Distressing! Every passing day makes our economic situation worse. Gov't must work with greater alacrity to lock in a program with the Fund in order to create a more predictable economic outlook,” John Mahama tweeted on October 4.

The former president additionally in an October 19 tweet stated the financial hardship confronting the nation is the worst in thirty years.

He made the comment whereas reacting to information {that a} man had died by electrocution on a high-tension pylon close to Kasoa.

“I returned from a trip to the sad news of Kakra who electrocuted himself. Levels of hardship in Ghana are dire; the worst in 3 decades. But suicide is never an answer. Even in the darkest night, there'll come dawn. The sun will rise again. Let's be each other's keeper keep hope alive,” Mahama tweeted.

The anticipated deal with by John Mahama will likely be his second main deal with on the financial system in current occasions. On May 2, the previous president engages with Ghanaians on the subject "Ghana at a Crossroads."