In this sensitive period for Ghana, our organization is committed to safeguarding the ideals of peace and security. FOSDA, which operates under the slogan "Advancing Human Security," has determined that it is important to address events that have occurred in the week since the President's address to the nation on the economy on October 30, 2022.
The Commission of Human Security (CHS) describes human security as a people-centered strategy for defending fundamental freedoms. It involves, among other things, creating economic structures that give people the necessities for survival, livelihood, and dignity. Unfortunately, Ghana's economic instability has only served to exacerbate the misery of the country's people. As acknowledged by the President in his address, for us, in Ghana, our reality is that our economy is in great difficulty. Inflation and the high cost of living have become a very present danger for the average Ghanaian. Objectively, this is because globally we are facing crisis after crisis. However, countries like Ghana that import a net amount of food and fuel are among those whose economies are being degraded the most.
This economic downgrade or as we like to call it, 'economic crisis' has increased social unrest all over the country. Over the past year, people have expressed their displeasure and anger at the frequent rise in prices for fuel and goods. It finally reached its peak this past week starting from jokes made out of the President's address, petitions to remove certain government officials, social media protests by youth groups and finally, the 'Ku me preko reloaded' demonstration held on Saturday 5th November, 2022. Ghana is under attack by the economic hardship we are facing and this threatens our peace and stability. As a result, security on all fronts—personal, community and political, including economic—is in danger.
Examples of the security concerns which have been brought on by the current economic crisis, include higher unemployment rates as a result of business closures, an increase in inequality and violent incidents, encouragement of black-market activity due to black market dollar rates, and a rise in political unrest that encourages vigilantism. Also, a major factor in suicide and the genesis of violent extremism is a feeling of alienation, which is highlighted by the economic hardship as it reveals how people' dissatisfaction may fester.
In order to address our economic insecurity challenges, FOSDA would want to implore the government to act swiftly. These bigger problems necessitate tougher decisions. Our future is fundamentally determined by the decisions we make now. To lessen the risks to human security presented by the economy, government must take immediate action: confront our debt, reduce the needlessly large administration, combat inflation, and ultimately take legislative measures to protect the recovery processes and increase resilience of economic policies.
We urge the government to take on the spirit of the 2021 United Nation's Common Agenda which states, Humanity faces a stark and urgent choice: breakdown or breakthrough. The choices we make — or fail to make — today could result in further breakdown and a future of perpetual crisis, or a breakthrough to a better, more sustainable, peaceful future for our people and planet.
FOSDA encourages the President, H.E Nana Addo Dankwa Akufo-Addo, and his administration to take aggressive steps to save the country's economy in order to avoid further breakdown.
