The Chief Executive Officer of Dalex Finance and Leasing Company Limited, Mr Kenneth Thompson, has dramatically begged President Nana Addo Dankwa Akufo-Addo to take decisive actions and save the economy from total collapse.<\/p>\n\n\n\n
Speaking on\u00a0Face to Face\u00a0on\u00a0Citi TV, Mr Thompson went down on his knees and called on the President to put in place measures that will ensure that majority of Ghanaians are not plunged into poverty and further suffering.<\/p>\n\n\n\n
\u201cHis Excellency Nana Addo Dankwa, what I can see coming is not good, I can see poverty I can see job losses, I can see business closures, I can see prices of electricity going up, I can see it. I lived through the 70s and I saw it,\u201d Mr Thompson said.<\/p>\n\n\n\n
The 61-year-old businessman added, \u201cI can\u2019t do much about the problem now but you can and I am begging you, please take decisive actions because I believe that you are capable of and let\u2019s move this country forward.\u201d<\/p>\n\n\n\n
Prices of fuel, goods and services have rapidly soared in the last few months plunging several households into a living crisis.<\/p>\n\n\n\n
In October, Ghana\u2019s currency depreciated as much as 3.3%, before paring the loss to 11.2750\/$ in the capital, Accra. That took its losses this year to more than 45%, the most among 148 currencies tracked by Bloomberg.<\/p>\n\n\n\n
President Akufo-Addo on Sunday admitted to Ghana\u2019s economic crisis, describing it as a \u2018historic\u2019 development. Addressing the nation on Sunday evening, the President conceded to the country\u2019s ballooning debt stock, rising inflation, free fall of the local currency, and the depletion of macroeconomic variables.<\/p>\n\n\n\n
According to him, the situation is due to many \u2018malevolent forces\u2019 which are currently working together. In his speech, he, however, reiterated the commitment of the government to dealing with the present economic decline.<\/p>\n\n\n\n
\u201cWe are in a crisis, I do not exaggerate when I say so. I cannot find an example in history when so many malevolent forces have come together at the same time. But, as we have shown in other circumstances, we shall turn this crisis into an opportunity to resolve not just the short-term, urgent problems, but the long-term structural problems that have bedevilled our economy\u201d, the President said.<\/p>\n\n\n\n