The President, Nana Dankwa Akufo-Addo has pledged to restore the now crippled Ghanaian economy to its healthy status, before the COVID-19 pandemic struck.
He has confidently set a timeline to achieve this goal, which should see the economy being mentioned as one of the fastest growing on the African continent.
He acknowledged the time left, barely two years for him to leave office, but expressed optimism in achieving the set goal.
He said “The next 22 months of my mandate will be focused on restoring the economy we had before COVID-19 and the Russian invasion of Ukraine to the period of rapid growth. It is a solemn pledge I am making to you my fellow Ghanaians, and one which I am determined to fulfill.”
President Akufo-Addo was speaking at the 66th Independence Day parade held at Adaklu-Tsrefe, near Ho yesterday.
Ghana has beseeched the International Monetary Fund (IMF) for a US$3billion bailout. It will be a three-year arrangement under the Extended Credit Facility (ECF).
RELIEF MEASURES
The government, while working to meet the IMF conditionalities introduced what has been described as draconian debt restructuring measures.
Though the government says it appreciates the difficult economic situation in the country, it has also termed the debt restructuring exercise as “burden sharing.”
President Akufo-Addo yesterday emphasised that the government had deployed a number of fiscal interventions to help bring relief to Ghanaians.
He was “confident that sooner rather than later, we will see significant results of relief and recovery.”
These interventions, the President assured, would be delved into tomorrow, on the floor of Parliament, when delivering the State of the Nation Address.
During that constitutional event, President Akufo-Addo said he would explain into greater detail the entirety of the package of policies the government is implementing, to bring back the days of rapid growth.
Reports indicate that by 2019, the Ghanaian economy was recording an annual Gross Domestic Product (GDP) growth rate of 7%.
COUNT YOUR BLESSINGS
Reiterating that he was aware of the current difficulties confronting the nation, President Akufo-Addo said the government was working hard to resolve it. He noted, however, that the nation maybe, should count its blessings in how together it is managing the difficulties.
He argued that unlike images around the world, Ghana has not had any fuel queues, no shortages of food and essential items, “or the catastrophe of dumsor,” he jabbed.
66TH INDEPENDENCE ANNIVERSARY
President Akufo-Addo also noted that Ghana, 66 years after freeing itself from colonial rule, had worked hard to live up to the responsibility of serving permanently as a barometer of the continent’s progress.
He acknowledged, however, that the nation had not fully realised the potential, dreams and aspirations of its forebears, who fought for its independence.
Speaking on the theme for this year’s celebration, “Our Unity, Our Strength, Our Purpose”, the President said it should imbue in citizens the constant desire to seek the progress, prosperity and development of Ghana, no matter the circumstances.
THE PARADE AND LOCATION
The Ghana Armed Forces and the other security services, as well as school children mounted a parade to celebrate the independence of the country, a ceremony which was graced by the President of Guinea-Bissau, who is also the chairman of ECOWAS, Umaro Mokhtar Sissoco Embaló.
There was a spectacular display by the security services to show their readiness to protect the country by land, air or sea, with an impressive march past by the school children. This was preceded by cultural display from the Volta Region.
From Maxwell Ofori and Samuel Agbewode
