Blogpay The government of Russia has said the Akufo - Addo government cannot blame the war in Ukraine for Ghana’s current economic crisis.
A few days ago, Ghana’s Vice President, Dr Mahamudu Bawumia, said the Russian - Ukraine was has had a direct adverse impact of the West African Countries Economy.
Speaking at the TESCON conference 2022 organized in collaboration with the Danquah institude at the Pentecost conference centre at the Millennium City In Kasoa in the central region or Thursday, 7 April 2022, Dr Bawumia said: “the increase in commodity prices has been exacerbated by the Russia - Ukraine conflict.
Russia and Ukraine together account for 30 percent of the global wheat export. The longer the conflict the greater will be the disruption to global growth.”
According to the AFDB the price of wheat has shot up by 62 percent since the war begun.
The price of fertilizer is up by 300 percent since the war begin. There in Ghana 60 percent of our total imports of iron ore and steel are from am Ukraine.