The Akufo-Addo led-administration has consistently blamed the current economic hardship in the country on a global crises such as COVID-19 and the recent Russia-Ukraine war.
His Vice President Dr. Mahamudu Bawumia during an economy lecture held in the Central also alluded to the same.
But, the Russian Embassy in Accra disagrees.
In a series of tweets on its official Twitter handle, the Embassy disclosed that Ghana’s economic challenges started before the invasion of Ukraine.
“The Embassy took notice of the increased number of news articles somehow or other accusing Russia of all negative trends in agricultural markets, gloomy prospects in terms of access of food and huge losses of farmers,” the Embassy indicated.
It continued that “However, the truth is different.”
“The Embassy wishes to shed some light on the roots and drivers of this crisis and provide a comprehensive and objective analysis without emotions and political prejudice.
“Food prices started rising in mid-2020 and reached an all-time high in February 2022.
“This is a real market shock caused by high demand and rising prices on food, raw materials, and transportation services, including freight in the post-COVID recovery period,” portions of the Embassy’s tweet explained.
The Embassy reiterated that the Russia-Ukraine conflict cannot be blamed and is “not a result of two months of this year,” invasion.
