The General Secretary of the New Patriotic Party (NPP), Justin Frimpong Kodua has urged Ghanaians to commend the government led by President Nana Addo-Dankwa Akufo-Addo for reviving Ghana’s ailing economy despite the challenges that confronted the country.
Addressing the press on Wednesday, December 21, 2022, he assured that the steps being taken by the government will continue to yield positive results to lessen the burden on Ghanaians.
Ghana is experiencing a deep economic crisis, with rampant inflation that has reached 40%, and its currency has fallen by almost half compared to the US dollar.
The government has suspended payments on most of its external debt, effectively defaulting as the country struggles to plug its cavernous balance of payments deficit.
The Ministry of Finance led by sector Minister Ken Ofori-Atta said it will not service debts including its Eurobonds, commercial loans, and most bilateral loans, calling the decision an “interim emergency measure”, while some bondholders criticized a lack of clarity in the decision.
Justin Frimpong Kodua speaking on the economic crisis called on Ghanaians to commend the government for taking steps to address the challenges.
He said “So we ask if the government can be blamed for the cedi depreciation, why can’t this same government be credited for the appreciation of the cedi? We also find it gratifying that owing to the massive appreciation of the cedi, prices of petroleum products at the pump have reduced resulting in a 15.3 reduction in transport fares.”
“I must admit that these developments may not entirely address the prevailing socio-economic conditions in the country, but we do believe strongly that they may offer a sigh of relief for Ghanaians as we approach the festive season, and we must praise this government,” he added.
