Business News of Monday, 24 October 2022

Source: www.ghanaweb.com

Economic hardship: I know how you feel, 'this too shall pass' - Akufo-Addo appeals

President Nana Addo Dankwa Akufo-Addo President Nana Addo Dankwa Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has assured Ghanaians that the current economic hardship shall become a thing of the past. According to him, Ghanaians should believe in him that as the President of this country, he will be able to tackle the challenges facing the country. Speaking at St Mark Anglican Church, Kyebi to end his three-day Eastern Regional tour, on Sunday, October 23, President Nana Addo Dankwa Akufo-Addo said: “I know the challenges Ghanaians are facing, I appeal to you to have faith in me to solve the challenges, this too shall pass.” Ghanaians are currently facing economic challenges just as other countries are also doing. The Cedi has recently been classified by Bloomberg as the worst-performing currency against the US Dollar. Currently, the Cedi is trading at above GH¢14 to a dollar at some forex bureaus. The depreciation rate is a contributory factor for the ongoing shop closures ordered by the Ghana Union of Traders Association (GUTA). According to the group, the fast depreciation of the Cedi is eroding their profits and also increasing the cost of doing business. Watch the latest episode of BizTech below: PEN