Government must take serious action to resolve the economic crisis to prevent chaos — General Nunoo-Mensah

A rating agency, Fitch this week has reduced Ghana's credit rating from B- to CCC, citing concerns that the country's standard of living will deteriorate.

In the report, Fitch noted that “in the absence of new external financing sources, international reserves will fall close to two months of current external payments (debits in the current account) by end-2022.”

Speaking on the Accra-based JoyNews 'Upfront' on Thursday, August 11, Brig. Gen. Joseph Nunoo-Mensah (Rtd), Former Chief of Defence Staff of the Ghana Armed Forces, expressed concern about the latest rating and the current economic situation.

He urged the government to act quickly to avert the impending economic crisis, which could strike early next year if nothing is done.

According to the security expert, it may end up turning citizens against the government, resulting in increased chaos in the country.

“We should observe what’s going on and take serious action, otherwise, we might have a serious situation on our hands. Early next year, coming January, February and March, there will be a serious problem for us, which might lead to riots and even breakdown of law and order,” he bemoaned.