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Hail Prez Akufo-Addo For Economic Recovery-NPP

by Isaac Mintah

The governing New Patriotic Party (NPP) has said Ghanaians need to show gratitude to President Nana Addo-Dankwa Akufo-Addo and his government for efforts towards addressing the challenges that confronted the economy.

The NPP said this with effect to the economic challenges the country has gone through over the past six months.

Ghana in recent past was constraint by deteriorating economic indicators with inflation hitting 50.3 percent and a depreciating cedi coupled with increased cost of living.

The cedi has, swiftly appreciated against the dollar bringing it close to 8 cedis to 1 dollar after the local currency was hovering around 15 cedis barely a month ago.

General Secretary of the NPP, Justin Frimpong Kodua, addressed a press conference on Wednesday December 21, 2022, and assured Ghanaians that the steps being taken by the government will continue to yield positive results to lessen the burden on Ghanaians.

“So we ask, if the government can be blamed for the cedi depreciation, why can’t this same government be credited for the appreciation of the cedi? We also find it gratifying that owing to the massive appreciation of the cedi, prices of petroleum products at the pump have reduced resulting in a 15.3 reduction in transport fares.

“I must admit that these developments may not entirely address the prevailing socio-economic conditions in the country, we do believe strongly that they may offer a sigh of relief for Ghanaians as we approach the festive season, and we must praise this government,” He emphacized

The NPP entreated traders and manufacturers to reduce the prices of their goods and services to lessen the burden on Ghanaians.

“We appeal to all manufacturers and traders to also reduce prices of commodities to conform to this reality…kindly reduce the prices of your products.”

The government has already arrived at a staff-level agreement with the International Monetary Fund (IMF) for a $3 billion extended credit facility to help revive the economy.

Government as part of measures to rescue the ailing economy announced a debt exchange programme for domestic bondholders and a suspension of payments for external bondholders.

The IMF has said a comprehensive debt restructuring is a condition of its support.

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