Ghana risks uprising like Sri Lanka: Nunoo-Mensah worries about severe economic difficulties

  • Ex-army chief thinks Ghana is heading down a path of uprising amid continued economic hardship
  • Brigadier General Joseph Nunoo-Mensah (rtd) wants managers of the economy to hold back the depreciating cedi and rising inflation as a matter of urgency to keep decent people off the streets
  • According to him, many people turn to a life of crime because an honest life has become impossible in the current economic climate.

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Retired Army Chief Brigadier General Joseph Nunoo-Mensah (rtd) has warned of a possible uprising in Ghana if the difficult economic conditions persist.

The former Chief of Defense Staff of the Ghana Armed Forces said honest workers in Ghana, whose incomes are being dissipated by rising inflation, depreciating cedi and high cost of living, would soon rise up against the government, as happened recently in Sri Lanka.

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He warned the government to focus on delivering real projects for the youth of Ghana.

Nunoo-Mensah and Sri Lanka protest
Brigadier General Joseph Nunoo-Mensah (left) and a Sri Lankan protester. Source: UGC/@Brigadier General – rtd Joseph Nunoo Mensah, and Getty Images.
Source: UGC

“You can’t just say we’re building factories, but there’s nothing on the ground. Let’s get serious and invest in the youth of this country, otherwise what happened in Sri Lanka could happen here,” Brigadier General Nunoo-Mensah said. told Joy News during a chat.

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He said many Ghanaians are turning to a life of crime because an honest life has become impossible in the difficult economic situation.

“If you are an honest person today, you will not survive. Nobody is honest. So I say let’s look inside, let’s look at this country. Look at our young people, invest in their future because their numbers are increasing,” he said. he urged.

Insurgency in Sri Lanka that overthrew the government

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Violent protests in Sri Lanka last month saw protesters storm the president’s official residence and burn down the prime minister’s house in Colombo.

The protests forced resignation Of the president.

The country has faced the worst economic crisis in its modern history this year.

Citizens struggled with high inflation, the high cost of electricity, fuel, medicine and other necessities.

The deterioration of economic conditions in Ghana

Ghana is facing its toughest economic conditions since 1981, according to some analysts watch the economic situation of the country.

Inflation for July 2022 stands at over 31%, the worst in almost two decades, but some experts believe price levels are much higher than official figures.

But high government debt and the depreciation of the cedi against the US dollar and other major trading currencies are worsening economic situation for ordinary Ghanaians and menacing business.

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The country blamed the Russian-Ukrainian war and Covid-19 for the economic woes and turned to the IMF for balance-of-payments support. Some analysts, however, said a bailout would not save the country.

US Economist Describes Ghanaian Cedi as Bank of Ghana Junk Currency

Meanwhile, YEN.com.gh reported in a previous article that US economist Professor Steve Hanke gave a bleak assessment of Ghana’s local currency, describing the cedi as a central bank “junk currency” as depreciation persists.

The popular economist said his calculations show that the cedi has depreciated by around 34% against the US dollar since January 2020.

“In #Ghana, the economy is in the tank. By my calculations, the #cedi has depreciated by around 34% against the USD since January 1, 2020. The cedi is a junk bank currency GHA must silence its central bank and install a currency board,” he tweeted over the weekend.

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Source: YEN.com.gh