Russian-Ukraine war and COVID-19 Contributing To Ghana’s Economic Crises-German Ambassador

Source The Ghana Report

Mr. Daniel Krull, the German Ambassador to Ghana, has disclosed that the current economic crises in Ghana could partly be attributed to the Russian-Ukraine war and the Covid-19 pandemic that has affected countries globally.

Addressing the press and some dignitaries during the commemoration of the 32nd German historic reunification day in Accra on October 3, 2022, the Ambassador said African countries were not the only nations going through economic crises, but European countries and other nations worldwide are also facing the same economic challenges.

According to Mr. Krull, it was a painful decision of the government of Ghana to reopen negotiations with the International Monetary Fund (IMF) following developments in the economic field.

“We believe that it is not just an option to remain silent on the sidelines regarding the development, regarding the fact that Russia is openly threatening to use nuclear arms and it is just crossing the red line,” he stated.

“We understand that even China and India are no longer willing to support this move by the Russians. I think we should all join forces to defend our charter of the United Nations. We all together should be defending it.”

Mr Krull expressly indicated that the Russian war in Ukraine was negatively affecting the energy market across the globe, weakening the economic system in every country.

He said Europe was aware of the crisis and expected to see some improvement in integration.

“So, there are always challenges in times of crisis, and I would encourage Ghanaian partners to not only look on the bad side but also on the promising part,” he said.

He indicated that the Russian war in Ukraine had caused trouble in the energy supply for Europe, forcing it to redesign its energy market faster than planned so that it would also help Europe to maintain its economic strength.

Mr Krull highlighted some of the new policies in Europe, including a switch to hydrogen power.

He observed that Ghana has a vast potential for untapped renewable energy resources such as hydropower, which could be engaged in green hydrogen production.

He again encouraged Ghanaian investors to consider utilizing the opportunity of local production of fertilizers since the war has also caused shortages.

He made it clear that German industries and investors are always ready to engage Ghanaian counterparts to bring out economic ideas that will help to boost Ghana’s economy.


Leave A Comment

Your email address will not be published.

You might also like
where to buy viagra buy generic 100mg viagra online
buy amoxicillin online can you buy amoxicillin over the counter
buy ivermectin online buy ivermectin for humans
viagra before and after photos how long does viagra last
buy viagra online where can i buy viagra