The address, which will air at 8:00 p.m. on all major news networks across the country, will focus on Ghana’s struggling economy and other pressing issues.
This comes on the heels of rapidly rising prices for goods and services caused by the cedi’s constant depreciation against the US dollar, the British pound, and other foreign currencies.
I will be addressing the nation on the economy on Sunday, 30th October, 2022 at 8pm. Watch it live on @NAkufoAddo, GTV and all major news networks across the country. #BouncingBackTogether pic.twitter.com/W8uclgaQbf
— Nana Akufo-Addo (@NAkufoAddo) October 27, 2022
About the depreciation of the cedi
On October 18, 2021, the cedi was the world’s worst performing currency, with a selling price of more than GHS 13.
Among the 148 countries tracked by Bloomberg, the cedi’s decline has accelerated since the beginning of the year, amounting to roughly 45% losses.
It is for this reason that Ghanaians, led by a chunk of parliamentarians, have called for the immediate resignation or sack of the Finance Minister, Ken Ofori-Atta.
However, after series of negotiations, the parliamentarians acceded to President Nana Akufo-Addo’s suggestion to maintain Mr Ofori-Atta until after the IMF negotiations.
Expectations are that the Sunday address will bring a closure to the whole brouhaha as the President briefs the nation on the way forward.
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