As communities, businesses, and citizens have been struggling to make ends meet in somewhat unsettling times, the current economic troubles in Ghana have reached historic proportions.

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The local currency has lost almost 50% of its value against the US dollar since the beginning of this year, and the cost of living, fuel price increases, job losses, labor agitations, and general discontent among the Ghanaian population have been rising for months.

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Although President Nana Addo Dankwa Akufo-Addo has formally admitted the country has been plunged into a crisis, hopes of securing an IMF support programme to restore macroeconomic stability have been put into question by economic experts.Chief Executive Officer of Dalex Finance, Ken Thompson, has made a passionate appeal to President Akufo-Addo to fix the ailing economy which is facing distress on all levels.

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The Dalex Finance CEO speaking in an interview on Accra-based Citi TV's 'Face to Face' segment on November 1 knelt, facing the camera, and cautioned the president over what he believes is a dire economic situation that will further hit Ghana.

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The 61-year-old finance expert said, “His Excellency President Nana Addo Dankwa Akufo-Addo If you’re watching, what I can see coming is not looking good…I can see poverty, job losses, business closures, prices of utilities going up”“Growing up, I lived through the crisis in the 1970s as I witnessed my parents come back from England.

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My mother at the time bought a new brand car which she eventually could not repair after the car was involved in an accident.”“I can remember how our room carpets became threadbare, our living room chairs and tables broken, and how we started wearing second-hand clothes due to the economic hardship...

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I have seen it all, but I am 61-years-old and I cannot do much about what is currently happening in Ghana but you [President Akufo-Addo] can and I am begging you to please take decisive action to move the country forward. Thank you, sir,” he concluded. 

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