President Akufo-Addo is scheduled to speak to the citizenry upon return from a cabinet retreat billed for this weekend Information Minister Kojo Oppong Nkrumah has revealed.
The president during the Cabinet retreat which starts from Thursday 27th October 2022 to Saturday 29th October 2022 will be briefed on the progress of negotiations between Ghana and the International Monetary Fund according to Kojo Oppong Nkrumah.
Calls have come from several quarters to President Akufo-Addo to address the citizenry on the recent economic situation.
Information Minister Kojo Oppong Nkrumah assured that the president will speak to the citizenry at the right time.
“On Thursday, Cabinet itself will be meeting to receive what has gone through the EMT and updates from the IMF negotiation so that some decisions will be made and then update the country on the next step forward.”
He also revealed a crunch meeting between the Governor of the Bank of Ghana Dr Ernest Addison and top officials of the banking industry including the forex bureau on how to stop the Cedi depreciation.
Unfortunately, the currency has lost 50% of its value and now selling at about GH¢14 to the dollar; which is biting businesses so hard.
It has also been tagged as the worst-performing currency in the world by Bloomberg.
But the Information Minister is certain that the situation will be tackled assuring that the government will look at solutions to make sure the forex rate is stabilized as more inflow of forex is expected due to the completion of the Syndicated Loan by COCOBOD.
Also, the Economic Management Team is scheduled to asses itself as the draws closer to an end.