Former President Nana Addo Dankwa Akufo-Addo has admitted that economic challenges in Ghana weakened his government’s popularity. Speaking at a post-presidency forum in Accra, he acknowledged that financial hardships affected public trust.
“The economic challenges Ghana faced eroded Ghanaians’ confidence in our administration,” he said. “As President, I take full responsibility for the outcomes of our policies.”
Ghana struggled with inflation rates reaching 40% in 2022 and 2023. The cedi depreciated significantly, and public debt rose sharply. The government blamed global factors like COVID-19 and the Russia-Ukraine war. However, critics pointed to domestic policies as worsening the crisis.
In February 2024, Akufo-Addo told Parliament that the President holds ultimate responsibility. “Under the Constitution, executive power rests with the President. There is no doubt about where the buck stops,” he stated.
Despite debt restructuring efforts, economic challenges in Ghana persisted. In the 2024 elections, the opposition National Democratic Congress (NDC), led by John Dramani Mahama, won decisively. Mahama promised to “reset” Ghana’s struggling economy.
Looking back, Akufo-Addo remained hopeful. “Though we faced challenges, I believe Ghana will overcome them. I urge citizens to support the new government’s economic recovery efforts,” he concluded.
As the new administration takes over, the focus remains on tackling economic challenges in Ghana and restoring stability.
