As of September 2022, the annual inflation rate of 37.2% as reported by the Ghana Statistical Service was the highest since 2001. By October 2022, the cedi became the world’s worst performing currency, having lost about half of its value relative to the U.S. dollar since the end of 2021.
Dr. Smart Sarpong, a Senior Lecturer and a Senior Research Fellow of the Kumasi Technical University’s Institute of Research, Innovation and Development has requested an update from the ruling party, NPP, on how it intends to cope with the nation’s current economic problems and the depreciation of the cedi.
He stated that the ruling party did well in updating Ghanaians during the COVID-19 pandemic but it’d seemingly been long since we heard any update.
He therefore urged the government to immediately start giving updates and tell his people something.
“Government did well in updating Ghanaians during the Covid pandemic…so they need to tell us something. We need fellow Ghanaians immediately.”