The President of the Republic, Nana Akuffo Addo, on Sunday, October 30th, 2022, addressed the populace regarding the economy.

In his televised speech from the Flagstaff house, he expressed his thoughts on how citizens should involve themselves in a collective effort to fortify the value of the Ghanaian currency, Cedis.

“All of us can play a part in helping to strengthen the Cedi by having confidence in the currency and avoiding speculation. Let us keep our Cedi as the good store of value it is'' he said.

His Excellency further stressed that people who spread false information about the currency, which cause fear and panic, will be dealt with by the appropriate authorities in due time.

“To those who make it a habit of publishing falsehoods which result in panic in the system , I say to them that the relevant state agencies will act against such persons.

He guaranteed that there would be no "haircuts" in any deposits made during the ongoing IMF discussions with regard to the banking industry and other financial entities.

“I also want to assure all Ghanaians that no individual or institutional investors, including pension funds, in Government treasury bills or instruments will lose their money as a result of our ongoing IMF negotiations.” He said.

“ There will be no “haircuts”, so I urge all of you to ignore the false rumors just as , in the banking sector clean-up, the Government ensured that the 4.6 million depositors affected by the exercise did not lose their deposit.” he continued.

In light of the country's current predicament, he emphasised that Ghanaians must develop self-confidence in order for the country to be wealthy, and he encouraged that the country remain together.

“I have total confidence in our ability to work our way out of our current difficulties. We are not afraid of hard work. We will triumph, as we have triumphed many times before. Let us unite , and rally around our Republic, its institutions and its democratic values, and insist that, under God, we will emerge victorious from our current difficulties. For this too shall pass, as the Battle is the Lord’s.