Home Politics President Akufo- Addo Reacts To Ukraine- Russia War- Read What He Said

President Akufo- Addo Reacts To Ukraine- Russia War- Read What He Said

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President Akufo- Addo has complained to the European Union about how the Russia- Ukraine conflict is wreaking havoc on African economies on a scale have not seen before, resulting in higher borrowing costs as a result of investor ” tantrums. ” Akufo- Addo was speaking to a group of European and international leaders at the 2022 European Union Development Days Conference in Brussels, Belgium, when he joined calls for the war to be ended as soon as possible.

Last month, the president voiced concern about the impact of the Ukrainian crisis on food security in Ghana and on the continent, claiming that the Ukrainian conflict has jeopardized Africa’ s food security by disrupting commodities imports and producing fertilizer shortages.

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” Fertiliser shortages are becoming an increasing issue in most African countries, including Ghana. ” Ghana’ s maize and soya output could be harmed, and our poultry market could be hit harder, ” he remarked at the Academy of African Business and Development’ s Annual Conference, held at the University of Professional Studies at Legon in Accra.

In Belgium, Akufo- Addo pushed world leaders to recognize the crisis’ impact on African economy as a whole, citing a survey that shows 70 percent of African nations are in grave danger, especially when investors’ ” tantrum” raises borrowing costs.

I’m Belgium, Akuffo Addo pushed world leaders to recognize the crisis ‘ impact on African economy as a whole, citing a survey that shows 70 perfect of African nations are in grave danger, especially when investors’ ” tantrum’ raises borrowing costs.

” In fact, according to a recent UN report, the Russian intervention in Ukraine poses a serious threat to approximately 70% of Africa’s economies. In the midst of this, 18 African economies have seen credit downgrades despite the fact that all African economies are still recovering from the pandemic of last year, and we in Africa are also facing the risk of so called tantrumsnare investors flock to our markets, exacerbating the rising cost of borrowing. ” He stated his case.

” At this time, the World Bank estimates that a result of the violence, the number of improverished people in Sub- Saharan Africa could jump by 50 million this year, from 413 million to 463 million. ” He went on to say.  After that, the President is anticipated to go to Kigali, Rwanda

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Frank Oteng known professionally as Ghlagatin is a Ghanaian celebrity blogger, freelance journalist, and reporter.He is the founder of Ghlagatin.net, an entertainment website. He graduated from Accra Technical University, ATU with a National High Diploma in Interior Design.

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