Ghana signed a $3 billion relief package with the International Monetary Fund to shore up its finances.
Ghana is facing a severe economic crisis with record inflation of over 50%, a collapsing national currency, a doubling of commodity prices and debt repayments that account for half of the government revenue. Worst in decades.
For economist Daniel Anim amarteye, economic stability is still a long way off. The downside is related to restrictions: governments cannot hire more people or spend money on social measures that are essential for the population.
Like other small businesses in Ghana, Nakobos’ packaging plant has been affected by the crisis. The shop owner, Daniel Tekyi, is in trouble. Therefore, we are currently producing at a loss. “he claimed
On the other hand, President Akufo-Addo said he invested in social programs to help Ghanaians. For his party, the New Patriotic Party, the crisis is due to the pandemic and the war in Ukraine.