In March 2022, former President of Ghana, H.E Nana Addo Dankwa Akufo-Addo blamed the country’s stagnant economy on the global pandemic, Covid-19 and the Russia-Ukraine war.
At the 77th UN General Assembly, the former president argued that the Ghanaian economy was at the right timing before the unexpected shocks of COVID-19 and the Russia-Ukraine war.
“As we grappled with these economic challenges, Russia’s invasion of Ukraine burst upon us, aggravating an already difficult situation.It is not just the dismay that we feel at seeing such deliberate devastation of cities and towns in Europe in the year 2022, we are feeling this war directly in our lives in Africa.Every bullet, every bomb, every shell that hits a target in Ukraine, hits our pockets and our economies in Africa. It is not just the dismay that we feel at seeing such deliberate devastation of cities and towns in Europe in the year 2022, we are feeling this war directly in our lives in Africa,” he added.
However, that assertion has been shot down by the World Bank in a recent report released in September, 2025 titled Transforming Ghana in a Generation. The Bretton Woods institution’s report indicated that the global challenges didn’t influence the crisis at the time but rather exposed “ an economy already beset with deep structural vulnerabilities and precarious macroeconomic conditions.”
According to the World Bank, prior to the global shocks, Ghana was already under pressure existing pressures with spending more than it earned and structural inefficiencies. It added that the situation pushed the country into seeking support from the International Monetary Fund (IMF), making Ghana the first African country to run to IMF.
The World Bank has further cautioned Ghana against repeating previous actions and move for a stable economy. “The deterioration of global conditions due to the COVID-19 pandemic and the Russian Federation’s invasion of Ukraine was not the cause of the 2022 macroeconomic crisis”, the policy note mentioned.
Following Akufo-Addo’s assertions, opposition figures like a member of the National Democratic Congress (NDC), Elvis Afriyie-Ankrah pointed to ignored warnings from credit rating agencies and fiscal indiscipline as factors for Ghana’s crisis.
In a recent address, at the 80th United Assembly, President John Dramani Mahama, noted that the global pandemic, COVID-1,9, which plagued the world five years ago, foiled the hard-fought-for decades of poverty reduction policies which were implemented by African countries.
He was highlighting some of the challenges of global progress and the fragility of development gains, which, in a general sense, affect development.
President Mahama referred to the impact of the pandemic and how it led to a regression in progress made in bettering the livelihoods of citizens, particularly the less privileged.
“In 1990, 36 per cent of the world lived in extreme poverty. By 2019, that figure had fallen to eight per cent. Global life expectancy had risen by nearly a decade in just one generation. Maternal mortality had declined by a third since the year 2000. And in global health since 2000 alone, more than 50 million lives had been saved through expanded access to vaccines, HIV treatment, and malaria prevention. The Global Fund and Gavi, born out of a new development consensus two decades ago, had provided life-saving tools to billions of the world’s population. This progress deserves recognition. It reminds us of what becomes possible when global solidarity rises to meet global challenges.”
COVID-19, first recorded in China, was declared a Global Health Emergency in January 2020. The World Health Organisation (WHO) declared it a Public Health Emergency of International Concern (PHEIC).
In early 2020, especially from March 2020 onward, as countries began enforcing lockdowns, travel bans, and social distancing measures, these affected work and production globally, affecting vulnerable countries like Africa, which were already struggling with healthcare, limited financial resources, inadequate infrastructure, and other constraints, the most from these health and safety-imposed restrictions.
The unprecedented pandemic devastated global economies, leading to widespread job losses and a sharp rise in the cost of living.
While the erstwhile Akufo-Addo government consistently attributed Ghana’s economic downturn between 2020 and 2022 to the pandemic, then-opposition leader Mahama and the National Democratic Congress (NDC) rejected that explanation.
However, speaking at the United Nations General Assembly during a side event dubbed Accra Reset, President Mahama acknowledged that the pandemic had indeed negatively impacted Ghana, particularly its fight against poverty.
“And yet, even as we celebrate these gains, the cracks in the global order are growing deeper… The COVID-19 pandemic erased two decades of poverty reduction in less than two years”, state broadcaster Ghana Television quoted the President as saying on its official Facebook page.
Meanwhile, Also, President Mahama made calls for a permanent representation of Africa on the United Nations General Assembly, granting the continent the right to veto power.
In his speech at the 80th United Nations General Assembly (UNGA) on Thursday, September 25, President Mahama explained that the long-standing tradition in which veto power is reserved for just five nations is outdated.
The current arrangement, rooted in the post-World War II order, the President stressed, concentrates power in the hands of a few countries.
He said, “Veto power should not be restricted to five nations, nor should it be absolute. There must be a mechanism for the General Assembly to challenge a veto. No single nation should be able to exercise an absolute veto to serve its own interests in a conflict.”
Currently, five countries hold permanent seats on the United Nations Security Council (UNSC), which automatically grants them veto power. This allows any one of them to block substantive resolutions, even if all other members agree. Named the P5, they include the United States, the United Kingdom, France, Russia, and China.
These countries were granted permanent status and veto rights in 1945, at the end of World War II, as part of the founding structure of the UN. Eight decades later, nothing has changed despite the shifting global order, President Mahama highlighted.
He referred to Africa’s growing and youthful population, citing demographic projections that by 2050, Africa will be home to over a quarter of the world’s population and a third of its youth, hence, “the future is African.”
He emphasised that it is time for the UN to grant Africa permanent representation on its council. He believes that just as Ghana is making adjustments, the UN must “reset” itself in light of the dramatic changes since 1945; however, the UN’s structures have not kept pace.
“A continent as large as Africa, with its numerous UN member states, would have at least one permanent seat on the Security Council. Madame President, I believe that in honour of this milestone celebration, the United Nations should also embark on a process of serious recalibration and establish its own reset agenda. Since the organisation’s founding, the number of UN member nations has nearly quadrupled, and quite frankly, it is not the same world that it was back then when the UN was formed,” he stressed.
He reiterated that if equality were truly upheld, Africa, with its 54 member states, would have at least one permanent seat on the Security Council.
“The most powerful post-World War II nations are still being rewarded with an almost totalitarian guardianship over the rest of the world. And yet, the first sentence in Chapter 2, Article 1 of the UN Charter declares that ‘The Organisation is based on the principle of the sovereign equality of all its members,’” he said.
Drawing on the words of Nelson Mandela, who in 1995 urged the UN to “reassess its role, redefine its profile, and reshape its structures,” President Mahama noted that little progress had been made three decades later.
“Today, we African leaders are still making the same request: for a permanent seat on the Security Council, with the power of veto. So, I ask again: if not now, then when?” he declared.
Another reform President Mahama urged the UN to pursue was gender equality, particularly empowering women and girls. He emphasised that women are indispensable in the world’s pursuit of development.
He said the future must be one of inclusion and fairness. “Allow me to echo the Indian-American writer, Arundhati Roy, who wrote: ‘Another world is not only possible, she is on her way. On a quiet day, I can hear her breathing.’ I want to add that for the sake of Africa, and quite selfishly, for the sake of my 18-year-old daughter, I hope this new world that is arriving is a place of safety and equality for women and girls. To succeed, we must empower everyone, including women and girls, to reach their full potential,” he stated.
He added that empowering women is not optional but essential for progress. “To succeed, we must empower everyone, including women and girls, to reach their full potential,” President Mahama said.
President Mahama then congratulated Vice-President Naana Jane Opoku-Agyemang on becoming Ghana’s first female Vice-President, describing her rise as a milestone for women. “Now every Ghanaian girl knows the heights to which she can ascend,” he said.
