Finance Minister Ken Ofori-Atta has said a number of African countries are facing economic challenges.
The minister was speaking at a press conference held in Accra on Thursday, 12 May 2022.
According to Mr Ofori-Atta, 41 African countries have been hit by a severe food crisis, as well as fuel and financial problems.
“Today, 41 African economies are severely exposed to, at least, one of three concurrent crisis: rising food prices, rising energy prices, tightening financial conditions”, which, he said, Finance Ministers now call the dreaded three Fs: Food, fuel and financial conditions.
According to him, “that is just a ripple through in all Africa, and food prices easily about 34 per cent higher, crude oil prices, some 60 per cent higher and global inflation has risen”.
“We saw our numbers yesterday move to 23.6 per cent, a good chunk of it being imported inflation.”
For April 2022 the national year-on-year inflation rate recorded was 23.6 per cent.
The Ghana Statistical Service (GSS) disclosed this on Wednesday, 11 May 2022.
While the month-on-month inflation for March 2022 and April 2022 was 5.1 per cent.
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@ JOSH IF ONLY THEY WILL LISTEN TO WISDOM...THEY ARE THE SAME PEOPLE IMPORTING ALL THE ***barred word*** INTO THE COUNTRY THERE BY PREVENTING COMMERCIAL FARMING...THESE GOOD FOR NOTHING OLD ***barred word*** HAVE MADE LIFE MISERABLE EVEN FOR UNBORN GENERATIONS...GOD SAVE GHANA
THIS HAVE EASY SOLUTION SO LONG AS WE KEEP IMPORTING ***barred word*** INTO GHANA THE CEDI WILL CONTHIS HAVE EASY SOLUTION SO LONG AS WE KEEP IMPORTING ***barred word*** INTO GHANA THE CEDI WILL CONTINUE TO DEPRECIATE. WHY ARE WE IMPORTING RICE INTO GHANA THAT GHANA HAVE FERTILE LAND TO PRODUCE RICE DOES IT MAKE SENSE. WHY WE IMPORT FLOUR WHILES BRASIL, EQYPT GROW WHEAT WHICH GHANA CAN DO SAME ARE WE SERIOUS AS A NATION WHO IS THIS AGRIC MINISTER IS HE SRIOUS AS A LEADER, STOP PEASANT FARMING AND DO COMMERCIAL FARMING ZIMBABWEA USE TO DO COMMERCIAL FARMING AND THEY WERE BREAD BASKET OF SOUTHERN AFRICA UNTI THEIR ***barred word*** LEADER MUGABE STARTED TAKING THE LAND FROM WHITE FARMERS TO THE BLACKS WHO COULDN'T FARM ANYWAY MEANWHILE THESE BLACKS WERE WORKING FOR THESE WHITE FARMERS AT THAT TIME. GOVERNMENT SHOULD PUT HEAVY TARRIFS ON PRODUCTS THAT CAN BE GROWN OR PRODUCE IN GHANA TO STOP THIS ***barred word*** ELSE WE ARE DOOM AS A NATION AND OUR CEDI STRENTH. AGAIN FOREIGNERS WHO DOMINATES OUR MARKETS CANNOT IMPORTS THINGS THAT CAN BE PRODUCE IN GHANA LY LAZY PEOPLE OR NATION DOES THAT. STOP THE ***barred word*** OF PEASANT FARMING TODAY CHINA BOOST OF SUFFICIENT GRAINS STORAGE FOR ONE YEAR TO FEED 1.4 BILLION OF THEIR POPULATION WITHOUT SCRAMBLING TO IMPORT AND GHANA CANNOT EVEN FEED 30 MILLION WHY BECAUSE CHINA DOES COMMERCIAL IRRIGATED FARMING EVEN FLOADING SOME OF THEIR LANDS THAT HAVE TOO MUCH ALKALINE WITH SEA WATER TO ENABLE THEM TO PLANT ON IT. JUST GOOGLE THEY HAVE ALL THAT ON YUTUBE TO WATCH WHY GHANA WITH ***barred word*** AGRIC MINISTER WASTING TIME AND MONEY ON PEASANT FARMING WHICH ANY SERIOUS COUNTRY WILL NOT IF THEY WANT TO BE SELF SUFFICIENT IN RICE MAIZE, WHEAT, CASHEWS, COPEAS, SUNFLOWER OIL AND ALL OTHER STAPLES. ONLY LAZY PEOPLE WORLD DOES THAT AND THAT SHOW UP IN OUR INFLATION YEAR TO YEAR. THE SOLUTION IS STOP PEASANT FARMING ***barred word***, FERTILIZER SUBSIDIES BY GOVERNMENT AND PROMOTE COMMERCIAL IRRIGATED FARMING IN GHANA AS DONE IN UKRAINE AND RUSSIA. GHANA CAN GROW WHEAT JUST AS BRIZILE DOES IN COMMERCIAL FARMING. GOVERNMENT SHOULD ALLOW FARMERS TO BUY THEIR OWN FERTILIZER WITHOUT SUBSIDISING IN OPEN MARKET AND USE THE MONEY TO BUY FERTILIZER TO FLOOD THE MARKET THAT WILL DRIVE PRICES DOWN FOR ODINARY CONSUMER AND THERE WILL NOT BE ANY SMUGGLING SINCE IS NOT GOING TO BE PROFITABLE FOR SMUGGLERS. IF SMUGGLERS ARE CAUGHT CAUGHT CONFISCATE THEIR LOAD AND AUCTION IT OR GIVE IT TO COCOBOD TO HELP COCOA FARMERS. IN NORTH AMERICA AND MOST INDUSTRIALIZED COUNTRIES. IF CHINA HAVE FOOD SECURITY FOR ONE YEAR TO FEED 1.4 BILLION POPULATION IS NOT BY PEASANT FARMING BUT COMMERCIAL IRRIGATED FARMING AND USING DRONES TO SPRAY FARMING IN MID AIR TO KILL INPESTICIDS. BUT GHANA CANNOT FEED 30 MILLION IS A SHAME ISN'T.