Ghana is not broke as some propagandists wants us to believe - Akufo-Addo
Accra, Ghana - 03 Jan, 2025 - In his final address to Parliament, outgoing President Nana Akufo-Addo sought to reassure Ghanaians that the country's economy is on the mend, despite facing significant challenges in the wake of the COVID-19 pandemic.
The President acknowledged that the economy had taken a severe hit, but attributed the country's resilience to the understanding and cooperation of the Ghanaian people, as well as the strategic measures implemented by his government during his final State of the Nation Address in Parliament on Friday, Jan 3, 2025.
Akufo-Addo's administration has faced criticism for its handling of the economy, with some accusing the government of reckless borrowing and fiscal mismanagement. However, the President maintained that his government had taken decisive action to address the economic crisis, including applying for an IMF support programme, which has yielded positive results.
The President also highlighted the country's improved economic indicators, including gross international reserves of almost $8 billion, surpassing the $6.2 billion inherited in 2017. This, he argued, is clear evidence that Ghana is not "broke" as some have claimed.
“The country is not broke, as some propagandists want us to believe,'' he stated.
As Akufo-Addo prepares to hand over power, his economic legacy remains a subject of debate. While some praise his government's efforts to stabilize the economy, others argue that his policies have exacerbated poverty and inequality.
In a contrasting view, some critics argue that Ghana's economic decline under Akufo-Addo's leadership was characterized by excessive borrowing, fiscal mismanagement, and a lack of transparency ². These criticisms have sparked a national conversation about the country's economic future and the need for sustainable development.
