President Akufo Addo stated, “Over the last three years, we have had our own captivity-in-Babylon moments,” in his message to the Ghanaian people on Christmas Eve.

He went ahead to declare, “I am glad that despite everything, we are starting to get out of the problems.

This gives me hope that with hard work, dedication, and continued wisdom in running our country’s affairs, we will rise up again.”

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Ghana’s economy has been unstable this year, so the nation turned to an IMF program for assistance.

Moreover, the government established a debt swap scheme as another component of its strategy to revive the economy.

In light of this, the Ministry of Finance issued the following statement in a press release on Saturday, December 24, 2022:

“The government today announces its decision to extend the expiration date of the invitation from Friday, December 30, 2022, at 4 pm (GMT), to Monday, January 16, 2023, at 4 pm.”

“The settlement date for the invitation is now expected to be Tuesday, January 24, 2023, or as soon as possible after that, but no later than the Longstop Date, which is now set for Tuesday, January 31, 2023, unless the government extends it further in accordance with the invitation,” the ministry said.

“The date of the announcement is now likely to be on or around January 17, 2023,” the statement iterated.

Meanwhile, President Akufo Addo is nevertheless optimistic that, ceteris paribus, Ghana’s economy will rebound more strongly in the coming year.