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Russia proves invasion of Ukraine not cause of Ghana’s economic woes

The Government of Ghana has consistently blamed the economic woes of the country on external factors like the war between Russia/Ukraine and the effects of the COVID-19 pandemic.

But Russia has disputed that assertion by the Government of Ghana. The Russian Embassy in Ghana has provided evidence that the invasion of Ukraine is not to be blamed for the rise in food prices.

The Russian Embassy first tweeted about the matter on July 1. Russia through its Embassy in Ghana tweeted that it was wrong to blame it for increasing food prices on the African continent.

According to the Embassy, the Ghanaian media had fallen for a ploy by the West to blame Russia for increasing food prices worldwide.

In the latest tweet on Tuesday, July 26, 2022, the Russian Embassy provided a detailed list of imports from other Countries to back its claims that the invasion of Ukraine has nothing to do with Ghana’s economic woes.

On Monday, Ghana’s Finance Minister, Ken Ofori-Atta told Ghanaians that the NPP government is good at fixing crises and promised Akufo-Addo will it fix the current economic challenges caused by the COVID-19 pandemic and the Russia-Ukraine war.

He said this during his 2022 mid-year review, on Monday, July 25.

He opined that Ghana resorted to an IMF programme despite several assurances of not seeking help from the Bretton Wood institution because of the impact of the two international crises.

“Yes, I know this Government assured the nation of a Ghana beyond Aid and our plans and programmes for economic transformation have been designed to achieve just that, and indeed, I did say that Ghana would not embark on an IMF programme”, he noted.

Mr Ofori-Atta added: “We did not just say it. We also took measures towards the attainment of that objective including the passage of the Fiscal Responsibility Act and instituting a number of irreversibility measures, and also launching the Ghana CARES ‘Obaatan Pa’ programme for economic revitalisation and transformation”.

He added that governments across the world have had to change course to tackle the current crisis. Governments that less than a year ago were busily talking about energy transition and green and cleaner fuels have gone back to firing their coal plants.


Business and World News

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