President Akufo-Addo Defends Economic Recovery Amid Criticism from IMANI President

by Louisa Afful
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During a ceremony at Jubilee House on June 24, 2024, President Akufo-Addo assured the newly appointed diplomats that his promise to revive the economy during the peak of the Covid-19 pandemic had been fulfilled, with Ghana now recovering from economic difficulties.
“If you remember, during the pandemic, I said we knew how to revive the economy, but not how to bring people back to life,” President Akufo-Addo recalled. “This justified the extraordinary expenditures we made to provide relief and protection. I believe the nation now appreciates this, as our economic recovery is on track.”

However, Franklin Cudjoe criticized the President for boasting about this achievement, accusing him of harming people’s investments through the debt restructuring program. He advised President Akufo-Addo to invest some of the $4 billion saved by not paying debts until 2026 in growth-enhancing projects and a sinking fund to ease the burden on the next administration.

Cudjoe warned that another IMF visit would be inevitable unless the next government cuts overall spending by at least 40% and reduces taxes and charges on the private sector. He argued that this would encourage real investment and prevent young girls from the North from moving south to become head porters (Kayayos), a situation exploited for political gain.

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