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Akufo-Addo explains State of Nation Today

President Nana Addo Dankwa Akufo-Addo as stipulated  by the 1992 Constitution is expected to deliver the State of the Nation’s Address in Parliament today.

This is in accordance with Article 67 of the 1992 Constitution, which states that the President shall deliver a message on the State of the Nation to Parliament at the start of each session and before the dissolution of Parliament.

The address, which was rescheduled from last month, is expected to highlight the government’s key policy objectives for the coming year as well as provide information on how the government intends to address economic conditions.

It comes at a time Ghana is hoping to restructure $5.7 billion debt with China holding a third of it amounting to $1.7 billion dollars.

Ghana is currently restructuring its debt both domestically and externally in order to access support from the IMF.

China is Ghana’s single biggest bilateral creditor with $1.7 billion of debt, while Ghana owes $1.9 billion to Paris Club members, according to data from the Institute of International Finance (IIF).

Speaking at the 66th Independence Parade in the Volta Region on Monday March 6, 2023, the President disclosed that despite the challenges the economy is confronted with, he is determined to be rebuild it before exiting office.

He attributed the challenges to COVID-19 and Russia-Ukraine war hence the reason the country is facing the current challenges with skyrocketing inflation.

“The next 22 months of my mandate will be focused on restoring the economy we had before COVID-19 and the Russian invasion of Ukraine to the period of rapid growth. It is a solemn pledge I am making to you my fellow Ghanaians, and one which I am determined to fulfill,” he stated.

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