Despite the difficulties facing the nation, President Akufo-Addo has said that his government would not give up on efforts to better the lives of Ghanaians. He turns to God for economic redemption as his checklist for restoring the shattered Ghanaian economy includes faith, prayer, suitable policies, hard work, and determination.
The end is still far off for Ghanaians as a result of the cedi’s depreciation and growing inflation. The Ghana cedi, now the worst-performing currency in Africa, has undergone significant depreciation, according to Bloomberg. The cedi had lost 28.82 percent of its value versus the dollar as of August 8, 2022. The dollar to cedi ratio currently stands at 1: 9.80.
The President stated that the government will continue to push through its programs despite the challenges while speaking at the 12th Biennial Conference of the Methodist Church of Ghana in Winneba in the Central Region.
Realization of the industrial transformation agenda, which holds the key to future prosperity, the execution of comprehensive infrastructure plans for roads and railways, the conclusion of the digitalization project to achieve full benefit, and the empowerment of the security agencies to ensure the safety are all other initiatives that will be continued. The President stressed that he will continue to have unwavering faith in God to change the country’s fate.
He further stated the battle is the Lord’s, and we must fight it with the right policies, tenacity, and hard work, as he implored Ghanaians to share the same beliefs that the fortunes of Ghana under the Presidency of Nana Akufo-Addo will be restored.
With less than two years left to the end of the President Akuffo Addo–led administration, should we believe that there will be a massive turnaround for our economy? No, we are not faithless but this is very hard to assume looking at how deep we are in the waters as a country. The inflation rate keeps rising and nothing seems to be changing. Maybe we can take the President by his word and believe that there are better days ahead of us as a country.
The President urged Ghanaians to have faith in his government’s ability to reverse the cedi’s decline, calling it unacceptable and stated that the government is extremely concerned about the situation and has pledged to take all reasonable steps to address it.
To restore the cedi depreciation cycle, the government of Ghana must keep up with its industrialization plan, add value to the nation’s exports, and boost local production. It must also drastically cut imports to have an adequate foreign exchange in the economy and alleviate the country’s economic predicaments.
Realistically, we barely see a light. We are glad he recognises the fact that the economy is getting out of hand. We can’t but to hope. For there is nothing too hard for God: perhaps He will show us mercy.
Beyond faith, prayer and all his strategies placed in place, it won’t be bad to also seek for wisdom from his predecessors, for a common adage says “an old man seated in the valley sees further than a young man standing on a mountain top”.
The problem is that some Ghanaian leaders are too proud to ask for help all for political gain. They would rather fail the entire country than fail their party. It’s sad.
With all these happenings it is the younger ones that suffer the most. I pray that the politicians do more to sustain the economy.