Concerns have been expressed by a number of individuals regarding the potential elimination of teacher trainee allowances as a result of the conditionality imposed by the IMF.
Yaw Osafo-Maafo highlighted the fact that all allowances will be preserved as he was speaking at the commemoration of the 175th anniversary of Akropong College of Education.
IMF deal: Trainee allowances will not be scrapped
“I am aware that the difficulty in the current economic climate, which has led to the government signing up for a programme with the International Monetary Fund (IMF), may give you some anxiety. I would like to reassure you that we are working diligently to address these issues. However, our programme with the IMF will not have any impact on any of the new allowances that have been implemented in the teaching profession.
According to Mr. Osafo-Maafo, who provided this clarification, “if there are any difficulties in prompt payments, it is coming both from our own mobilisation of resources and not from the IMF.”
On May 17, the Executive Board of the International Monetary Fund approved permission for Ghana’s request for a bailout of $3 billion, which is intended to revitalise the faltering economy of the country.
On May 19, Ghana was given a sum of $600 million by the International Monetary Fund (IMF). This was the first installment of a bailout package worth $3 billion.