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I’m confident the economy will rebound with God’s help – Akufo-Addo

The Ghanaian economy has been facing major challenges in recent years due to various external and internal factors. The global pandemic, coronavirus, dealt a heavy blow to the economy in 2020, and the subsequent Russia-Ukraine war in February 2022 had a further negative impact on both African and global economies.

In response to these challenges, the Ghanaian government has implemented several measures to build a strong and resilient economy. However, high inflation, increased transport fares, and rising food prices continue to be major problems for Ghanaians.

President Nana Addo Dankwa Akufo-Addo has assured Ghanaians that the economy will soon bounce back to normal and that the government is implementing a number of policy measures to achieve this. Speaking at the 18th consultative council meeting of the Anglican Church on Sunday, February 12, 2023, he expressed confidence that, with the help of God and the collective efforts of Ghanaians, the country will successfully confront the economic difficulties and return to the high rates of growth experienced before the pandemic and war.

The government has also sought assistance from the International Monetary Fund (IMF) in the form of a $3 billion financial bailout programme. A team from the IMF visited Ghana in July 2022 to engage with Ghanaian authorities, and a Staff-Level agreement was reached in December 2022. The IMF programme aims to restore macroeconomic stability and safeguard debt sustainability, among other objectives.

Despite these challenges, the Ghanaian government remains optimistic about the future of the economy. With the implementation of policy measures and the support of the international community, the country hopes to overcome the current economic crisis and achieve sustained growth and development

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