NEWS: Ghanaian Grammy-nominee Rocky Dawuni Calls for Stronger Moral Leadership in Ghana's Political Landscape.

Renowned Ghanaian singer and three-time Grammy-nominee, Rocky Dawuni, used his platform on September 16, 2023, to express deep concerns about Ghana's political leadership. Known for his signature 'Afro Roots' music, a fusion of Reggae, Afrobeat, Highlife, and Soul, Dawuni didn't hold back in criticizing the current state of politics in the nation.

In his statement, Dawuni remarked, "Our national politics has become a game of repeating your own lies until you blindly believe them yourself. The people of Ghana deserve better moral leadership!"

Ghana Economic Outlook

Shifting our focus to the economic front, Ghana grappled with various challenges in 2022. The real GDP growth slowed to 3.3% from 5.4% in 2021, citing macroeconomic instability, global financial constraints, and fallout from Russia's invasion of Ukraine. Inflation soared to 31.5%, triggered by surging food and energy prices, compounded by a depreciating local currency. The Bank of Ghana responded with a policy rate hike to 27%.

Fiscal concerns surfaced as the deficit widened slightly to 9.3% of GDP, and public debt surged to 93.5% of GDP due to increased spending and currency devaluation. On a brighter note, the current account deficit improved to 2.8% of GDP, driven by enhanced trade balance. However, foreign exchange reserves dwindled to $6.2 billion in 2022, impacting import cover.

Despite economic turbulence, Ghana's financial sector maintained stability, showcasing a capital adequacy ratio exceeding the set target. Nonetheless, credit risk remained high, spotlighted by a concerning nonperforming loans ratio. The poverty rate saw a decline to 10% in 2022. However, the burgeoning cost of living and unemployment posed challenges to the overall living standards, especially for the youth, where unemployment rose to an estimated 7.2% in 2021.

Our national politics has become a game of repeating your own lies until you blindly believe them yourself. The people of Ghana deserve better moral leadership!

— Rocky Dawuni (@RockyDawuni) September 16, 2023