President Nana Addo Dankwa Akufo-Addo stirred up controversy in his last State of the Nation address on January 3, 2025, in response to common fears about the country’s economic situation. He vehemently declared that Ghana is not broke. Addressing Parliament, Akufo-Addo dismissed these statements as advertising designed to mislead people.
” Mr. Speaker, the land is not as broke as some ideologues want us to believe. We are handing over a nation with total foreign reserves of nearly 8 billion. He claimed that this amount is “more than the 6.2 billion in total foreign reserves inherited in 2017”.
The President emphasized that Ghana’s resources have grown tremendously under his management, presenting this as proof of the country’s economic endurance. However, some Members of Parliament voiced their opposition to his statements in response to the ongoing monetary problems.
Ghana is already grappling with problems such as rising unemployment, stalled business growth, and ecological catastrophes. Despite these barriers, Akufo-Addo insisted that the business has recovered to pre-COVID development rates, framing it as a vital accomplishment of his presidency.
As Akufo-Addo prepares to leave business, his reputation remains a subject of intense debate. While he used his last address to identify his administration’s achievements, reviewers argue that his career has left Ghana worse off than when he assumed the position in 2017. His bold declaration has rekindled discussions about the country’s economic future and the steps required to ensure long-term growth.
