President Nana Addo Dankwa Akufo-Addo says the ongoing Russia-Ukraine war is directly affecting Africa.
“As we grappled with these economic challenges, Russia’s invasion of Ukraine burst upon us, aggravating an already difficult situation. It is not just the dismay that we feel at seeing such deliberate devastation of cities and towns in Europe in the year 2022, we are feeling this war directly in our lives in Africa.”
“Every bullet, every bomb, every shell that hits a target in Ukraine, hit our pockets and our economies in Africa,” he said.
According to him, “the economic turmoil is global with inflation as the number one enemy this year. It hit a 40-year-high in the US and UK in recent months. There is record inflation in the eurozone. Several African countries have inflation rates surging three to four times higher than what they were just two years ago. In Ghana, we are experiencing the highest inflation for 21 years. The high costs of food are hurting the poor, especially the urban poor, the most.”
The President who was speaking at the 77th UN General Assembly on Wednesday, further noted that, “Nevertheless, we do not have the luxury of being able to pick and choose which big problem to solve. None of them can wait; the economic turbulence requires urgent and immediate solution; the turmoil and insecurity in many parts of the world require urgent attention; and so does the need to tackle the problems posed by climate change.”
“A watershed moment, indeed, it is, and history will judge us harshly if we do not seize the opportunity to make the changes that will enable us to deal with the many problems we face,” he added.