The Nana Addo administration has resorted to blaming COVID-19 and Russia for the economic quagmire Ghana is facing. Other economists and analysts disagrees with that. The NDC has communicated to Ghanaians that blaming COVID and Russia is a total falsehood.
Today, Nana Addo and his team has been vindicated as a top official of IMF has indirectly bailed them with her statement.The managing Director of the International Monetary Fund (IMF) who goes by the name Kristalina Georgieva, explained that almost all the African countries are more likely to feel the impact of the Ukraine War.
“Africa is uniquely vulnerable to the impact of Ukraine war. In my meeting with African policymakers today, i repeated the International Monetary Fund’s resolve to help address Africa’s urgent financing needs to protect food security and restore the path to recovery “.
According to IMF, these African countries will face higher food insecurity driven by increased prices ,fuel prices straining government and household budgets, Lower growth and exports and also higher borrowing costs.