Why Ghanaians dey protest and call for di president to resign

Hundred of pipo for Ghana enta street on Saturday, 5 November to protest de rising cost of living for de kontri capital Accra. De protesters want make President Nana Akufo Addo, Vice President Dr Mahamudu Bawumia and Finance Minister Ken Ofori Atta resign over dia failure to address di kontri economic crisis. Dem also want de govment to take practical measures to deal wit di current economic hardship.  Many of de protesters carry placards wey dem write different things like: “Poverty is on the rise”, “Ghana is a crime scene”, "Resign or be impeached”, “If only you listened to fixthecountry” and so many odas. Prices of fuel and essential commodities don go up sharply. Inflation don rise to record of 37.2% and fuel prices increase by over 150% dis year. Many of dis problem dey link to di way Ghana currency, di Cedi dey lose value. Ghana Cedi don lost more than half of im value dis year and e dey listed as di world worst performer against de US Dollar. President Nana Akufo Addo don already announce some measures to address de problem. And dis including looking for ways to get cheaper fuel for Ghanaians and maintain 30% cut of im salary, di salary of di vice president and oda govment officials. Ghana na de world second leading Producer of cocoa and Africa second-largest gold producer. But now, de kontri dey look for $3 billion bailout from IMF to revive dia economy. How Ghana move from best to worst performing currency in two years For February 2020, Global financial news, research and data organisation Bloomberg report say Ghana cedi be de best performing currency against de US dollar in de world for start of 2020. During dis time, Bloomberg report say de currency of Ghana, de world's second-biggest cocoa producer strengthen by 3.9% in 2020, de strongest in over 140 currencies wey dem dey track.  Dem explain say dis be massive turnaround from 2019 when de Ghana cedi weaken by up to 13%. Fast forward two years later, de cedi move from best performing currency to de worst. Ghanaian Economist, Professor Godfred Bokpin believe say govment bring dis on dia self. “Dem delay in reaching out to de IMF, like dem for make de call last year.” “At de beginning of dis year, we insist say govment for make de call to IMF sake of dem dey move dangerously” he add. What happen during dia delay be say little assurance dey in terms of fiscal sustainability which one go fit deduce from de 2022 budget.  He explain say govment no get de monies to support dia 2022 budget, something which make dem start dey find ways to generate money locally like through de electronic transactions levy. Dia failure to recognize de need to go to IMF on time cause de devastation which Ghana dey go through right now. How inflation cause economic challenges for Ghana Inflation rate for Ghana reach one of de highest in de history of de country as e catch 37%. According to Ghana Statistical Service, inflation hit 37.2% for de month of September, dis be de highest in over 20 years. Starting de year around 13.9%, de inflation rate shoot up de price of food, goods and services, living costs den tins.  De hikes in fuel prices also add on to de cost of living as transport affect most parts of de Ghanaian economy. Ghana Union of Traders Association (GUTA) say dem go embark on protest on Wednesday, Octobern 19 to resgister dia displeasure over de economic woes dem dey face. Ghana govment never yet react to di latest report wey put de Cedi as de worst performing currency.

Hundred of pipo for Ghana enta street on Saturday, 5 November to protest de rising cost of living for de kontri capital Accra. De protesters want make President Nana Akufo Addo, Vice President Dr Mahamudu Bawumia and Finance Minister Ken Ofori Atta resign over dia failure to address di kontri economic crisis. Dem also want de govment to take practical measures to deal wit di current economic hardship.  Many of de protesters carry placards wey dem write different things like: “Poverty is on the rise”, “Ghana is a crime scene”, "Resign or be impeached”, “If only you listened to fixthecountry” and so many odas. Prices of fuel and essential commodities don go up sharply. Inflation don rise to record of 37.2% and fuel prices increase by over 150% dis year. Many of dis problem dey link to di way Ghana currency, di Cedi dey lose value. Ghana Cedi don lost more than half of im value dis year and e dey listed as di world worst performer against de US Dollar. President Nana Akufo Addo don already announce some measures to address de problem. And dis including looking for ways to get cheaper fuel for Ghanaians and maintain 30% cut of im salary, di salary of di vice president and oda govment officials. Ghana na de world second leading Producer of cocoa and Africa second-largest gold producer. But now, de kontri dey look for $3 billion bailout from IMF to revive dia economy. How Ghana move from best to worst performing currency in two years For February 2020, Global financial news, research and data organisation Bloomberg report say Ghana cedi be de best performing currency against de US dollar in de world for start of 2020. During dis time, Bloomberg report say de currency of Ghana, de world's second-biggest cocoa producer strengthen by 3.9% in 2020, de strongest in over 140 currencies wey dem dey track.  Dem explain say dis be massive turnaround from 2019 when de Ghana cedi weaken by up to 13%. Fast forward two years later, de cedi move from best performing currency to de worst. Ghanaian Economist, Professor Godfred Bokpin believe say govment bring dis on dia self. “Dem delay in reaching out to de IMF, like dem for make de call last year.” “At de beginning of dis year, we insist say govment for make de call to IMF sake of dem dey move dangerously” he add. What happen during dia delay be say little assurance dey in terms of fiscal sustainability which one go fit deduce from de 2022 budget.  He explain say govment no get de monies to support dia 2022 budget, something which make dem start dey find ways to generate money locally like through de electronic transactions levy. Dia failure to recognize de need to go to IMF on time cause de devastation which Ghana dey go through right now. How inflation cause economic challenges for Ghana Inflation rate for Ghana reach one of de highest in de history of de country as e catch 37%. According to Ghana Statistical Service, inflation hit 37.2% for de month of September, dis be de highest in over 20 years. Starting de year around 13.9%, de inflation rate shoot up de price of food, goods and services, living costs den tins.  De hikes in fuel prices also add on to de cost of living as transport affect most parts of de Ghanaian economy. Ghana Union of Traders Association (GUTA) say dem go embark on protest on Wednesday, Octobern 19 to resgister dia displeasure over de economic woes dem dey face. Ghana govment never yet react to di latest report wey put de Cedi as de worst performing currency.