President Nana Akufo-Addo replied BBC’s Peter Okwoche who said Ghana is struggling and does not look attractive to investors. Speaking to the N
President Nana Akufo-Addo replied BBC’s Peter Okwoche who said Ghana is struggling and does not look attractive to investors.
Speaking to the Nigerian-born British-based journalist in an interview on Monday, April 4, 2022, the President mentioned the local currency, the Cedi is gradually appreciating.
His comment was swiftly interrupted by Mr. Okwoche who stated that, per facts, Ghana’s performance is terrible.
Mr. Peters noted, “But you mentioned all that but if I look at the Ghana economy at the moment I mean let’s be honest is doing terribly. Inflation in Ghana is 15.73 percent, the Ghanaian Cedi has fallen 20 percent to the dollar the worst after Russia…It doesn’t look like a place where I will go and put my money.”
The President in his defense indicated to him that Ghana is not the only country suffering economic instability.
He argued that economies around the world have been hit by the covid-19 pandemic and recently, the Russia-Ukraine war which has disrupted global supplies.
He stated, “It’s beginning to firm up, we have seen the cedi systematically appreciating against the dollar. Where will you put your money today? In Britain which is suffering the worst standard of living for over 30 years?… Let’s situate ourselves correctly the world is going through hot times. Ghana is no exception, Nigeria is no exception.”
By: Isaac Donkor (Distinguished) student of the Ghana Institute of journalism.
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