Finance Minister Dr. Mohammed Amin Adam has predicted a potential rise in demand for foreign exchange if Ghana is compelled to import food to supplement the existing supply due to the ongoing drought in Northern Ghana.
Speaking at a press briefing in Accra, Dr Amin Adam expressed cautious optimism that substantial progress will be made in securing the country’s food supply.
He however acknowledged that importing food to meet market demands could negatively impact the economy.
Dr. Amin mentioned that the Finance and Agriculture Ministries are yet to discuss most effective strategies for sourcing food to stabilize the markets and provide necessary food relief, emphasizing that the drought would have far-reaching consequences, impacting the economy in various ways.
Northern Ghana is currently grappling with a severe drought that has sparked widespread concerns about food security and the livelihood of thousands of farmers.
The region has been without rain for more than two months, with the extended dry spell stunting crop growth and leaving farmers with little hope for a successful harvest.
Source: citionline
