Former Ghanaian President Nana Addo Dankwa Akufo-Addo has acknowledged that economic difficulties and frequent public protests during his tenure played a key role in the decline of his government’s popularity.
Speaking at the launch of a book by former Nigerian Military President, General Ibrahim Babangida, Akufo-Addo reflected on the economic turbulence that marked his presidency, particularly during the COVID-19 pandemic, which severely impacted Ghana’s financial stability.
He noted that the global health crisis disrupted economies worldwide, including Ghana, leading to a sharp decline in economic activity.
With international capital markets largely inaccessible, his administration was left with limited options and was ultimately forced to seek financial assistance from the International Monetary Fund (IMF) to stabilise the economy.
Mr Akufo-Addo admitted that the resulting economic hardships led to widespread public dissatisfaction, sparking multiple protests across the country.
While he acknowledged that the demonstrations were not as intense as the Structural Adjustment Programme (SAP) riots in Ghana and other African nations in the 1980s, he conceded that they significantly affected public confidence in his administration.
“We faced a major economic crisis and with the world’s capital markets closed to us, we ended up going to the IMF. Not an easy decision to make. The economic difficulties brought people onto the streets,” he said.
“I will say that even though the demonstrations were not on the scale of the SAP riots that are recalled and described in the book, they were serious enough, feeding into the growing disaffection against the government.”
The remarks come as Ghana continues to grapple with economic challenges, with ongoing debates about the effectiveness of measures taken to restore stability.
