In Ghana, consumer inflation topped 37% in September, while the cedi currency has lost more than 40% of its value this year. Ghanaians march in the streets wearing red to protest the worsening economic crisis and to demand that the president step down.
Ghanaians marched in the streets on November 5, 2022, in Accra, Ghana, to protest the growing economic crisis and to demand that the president resign.
Protesters in Ghana say Akufo-Addo must resign as inflation continues to rise
Hundreds of protesters marched through Ghana's capital, Accra, calling for President Nana Akufo-Addo's resignation amid an economic crisis that has seen food and fuel prices reach all-time highs.
On Saturday, a crowd of over 1,000 people marched past police in riot gear, waving placards and chanting, “Akufo-Addo must go.” The red-clad protesters also chanted "IMF no," referring to the government's ongoing negotiations with the International Monetary Fund for billions of dollars to help the economy.
Last week, the president sought to reassure Ghanaians that the government would restore the country's finances after consumer inflation reached 37 percent in September, a 21-year high despite aggressive policy tightening.
One of the protesters, Rafael Williams, said, "He has failed, and we request that he resign." “High fuel price increases are killing Ghanaians.” The World Bank estimates that about a quarter of people in the country make less than $2.15 per day.
The peaceful protest was the most recent in a series of actions against rising living costs this year. One of the worst-performing currencies in a region feeling the effects of a global economic slowdown is Ghana, which produces gold, cocoa, and oil.
This year, Ghana's cedi has fallen more than 40% against the dollar. "We're talking to the IMF." "They should not lend to them," said Francisca Wintima, a tailor among those protesting in the capital.
"Enough already. Gold, oil, manganese, and diamonds are all available. This country provides everything we require. The only thing we require is leadership."