Economic challenges: President Akufo-Addo to address nation on Sunday
President Nana Addo Dankwa Akufo-Addo is scheduled to address the nation on the state of the economy on Sunday, October 30, 2022.
The address scheduled to be televised on major new networks at 8 pm will also be livestreamed on GraphicOnline.
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Ghana is currently facing an economic crisis. Its currency - the cedi - has lost 52% of its value against the US dollar since the beginning of the year and annual inflation has climbed above 37 per cent.
The country is also negotiating a $3bn (£2.6bn) bailout with the International Monetary Fund which it hopes will grant it access to the international capital markets.
Last week, traders closed down their stores for three days in protest of the economic conditions. Some Members of Parliament from the President's New Patriotic Party on Tuesday (October 25, 2022) demanded the sacking of the Finance Minister, Ken Ofori-Atta and his Deputy, Charles Adu Boahen over the state of the economy and the depreciating cedi.
Mr Ofori-Atta who has been Finance Minister since 2017 is in charge of negotiations with the International Monetary Fund (IMF) and President Akufo-Addo has told the MPs that their demands would be acted upon after the 2023 budget reading and culmination of the ongoing IMF support talks.
Today the MPs announced that following a request by President Akufo-Addo, they had suspended their push for Mr Ofori-Atta's sacking until after the IMF negotiations and the budget reading.
Meanwhile, a former President, John Dramani Mahama will today (Thursday, October 27, 2022) address the nation on the current economic challenges facing the country.
The presentation, slated for 7 pm at the UPSA Auditorium, Madina is titled "BUILDING THE GHANA WE WANT".
