President Akufo-Addo has directed the Finance Ministry to distribute ¢1.5 billion to consumers who the banking sector cleanup exercise has impacted.
During a UK Town Hall meeting by Finance Minister Dr. Mohammed Amin Adam, this instruction was revealed over the weekend.
Dr. Amin Adam emphasized that the payment must be finished by October in accordance with the President's directive.
He emphasized that the welfare of the Ghanaian people is the government's top priority and made it clear that people, not the government, are responsible for their investment decisions.
“In theory, the government shouldn't be accountable for the financial choices made by individuals, but this administration is incredibly kind.
“Mistakes were made and people were not well-informed, and they didn’t know who to consult to be advised, but we also know that the people who are affected are suffering, and we have heard that some people have died and others had to commit suicide.”
“This government is so caring that in the first place, we granted some bailouts to all the affected, and I want to tell you again that the President has directed that we do another bailout.
“So between now and October, we will release 1.5 billion Ghana cedis to the affected people,” he said.
Dr Amin Adam has additionally disclosed the successful conclusion of Ghana's debt restructuring program with its official creditors.
Akufo-Addo orders the Finance Ministry to release ¢1.5bn for these people
The Member of Parliament for Karaga highlighted that the government has effectively restructured its debt of $5.1 billion with these creditors, and has also completed the restructuring of $13.1 billion with Eurobond holders.
