IBADAN, Nigeria (VOICE OF NAIJA) – Ghanaian actress and entrepreneur, Juliet Ibrahim, has decried the high cost of living in her country.
According to the actress, Ghana is now the most expensive West African country.
She also pointed out some of the challenges they are currently facing.
The actress tweeted: “Ghana is officially the most expensive West African country right now! No joke!
“Someone driving a car of 3.0 / 3.5 fills their fuel tank to use within 5-7 days with fuel worth 1300/1400 cedis. Currently, $100 = 1,400 cedis.
“Even in USA, to fuel the same type of car can and will NEVER cost that much! Yet we are all going through the same economic crisis.
“$100 = 1400 cedis 1400 cedis = 72,000 Naira Is there any Nigerian on my timeline that spends 72,000 Naira to fuel his car and use for a period of 5-7 days? Let’s have this discussion and make it make sense to me oo…
“This is not a political post. Everyone’s affected and talking about our concerns / worries only helps one stay sane. Thanks”
Ghana, one of West Africa’s more prosperous countries has been rocked by a cost-of-living crisis. Inflation in Ghana reached 29.8% in June 2022, the highest level in two decades.
The Guardian reports that food prices have risen by 30.7% since last year, and energy costs have sharply climbed. Transportation costs have also gone up.
The 1 August Market Monitor further indicates that the Ghana cedi has seen an exchange rate movement of 34% against the US dollar, Euro, British Pound, and West African CFA Franc in the past six months.
As inflation persisted and broadened, hundreds took to the streets of the capital Accra to protest the deteriorating economy.
President Nana Akufo-Addo has stressed that the economic challenges the country is facing are the effect of the COVID-19 pandemic and the war in Ukraine.
The government is seeking a support package from the International Monetary Fund (IMF), which visited Ghana in July.
In a 13 July statement, the IMF said that such adverse developments “have contributed to slowing economic growth, accumulation of unpaid bills, a large exchange rate depreciation, and a surge in inflation.”