The protest was in response to the inflation price that has sky-rocketed the price of dwelling for Ghanaian residents. The protesters yesterday demanded that President Nana Akufo-Addo step down.
Geared up with their placards and voices, 1000’s of involved Ghanaians performed a peaceable protest, throughout Accra on Saturday, chanting, “Akufo-Addo should go,” and “IMF no.”
The Ghanaian authorities has been in talks with the Worldwide Financial Fund (IMF) for a $3 billion mortgage bailout. Read the story here. However yesterday, the protesters relayed their ideas on the matter, rejecting the thought.
That is hardly the primary protest towards the present administration in Ghana this 12 months. Again in June, 1000’s of protesters marched on the streets, demanding the reversal of presidency insurance policies which can be inflicting inflation to rise.
Ghana because the starting of the 12 months has been struggling to maintain its financial system afloat. Between March and Could alone, the federal government raised the coverage rate of interest twice, by a minimum of 200 factors every time. The federal government did this in an try to counterbalance the nation’s inflation price which had risen to 27%.
Ghana’s present inflation price which is at 37% one of many highest within the globe, it goes with out saying that the aforementioned directive was an enormous catastrophe.
In September, it was reported that Ghana had the weakest foreign money on this planet. Read the story here. Final week, parliamentary members, demanded the quick launch of the present finance minister, which the president vetoed.
The president would additionally deal with the folks final week, formally declaring the nation’s financial system to be in a state of emergency. Read the story here.
Ghana, a gold, cocoa, and oil-producing nation looks as if it’s at present bearing the brunt of a world financial slowdown, regardless of being certainly one of Africa’s most sturdy economies prior, and a outstanding participant on this planet’s financial stage.
