President Nana Addo Dankwa Akufo-Addo has announced that his salary and that of all his appointees have been cut by 30%.
The 30% cut also affects the expenditure of ministries, governmental agencies and departments.
Addressing Muslims at an Eid-Ul-Adha ceremony on Saturday, July 9, 2022, President Nana Addo Dankwa Akufo-Addo indicated that fuel coupon allocations had also been slashed by 50%, as well as, other expenditures suspended due to the current economic challenges.
He entreated Ghanaians to sacrifice to help government navigate through the wobbling economy.
“We are all going to have to make some sacrifices to afford us the space to navigate the troubled waters of the current economic difficulties. The expenditure of ministries, departments, and agencies has been cut by 30 percent. The salaries of all appointees including myself have been reduced by 30 percent. Fuel coupon allocations have been slashed by 50 percent and other expenditures suspended," he stated.
He urged Ghanaians to bear with him as he puts in measures to stabilize the economy.
It would be recalled that President Nana Addo Dankwa Akufo-Addo on Friday, July 1, 2022 instructed the Finance Minister, Ken Ofori-Atta to commence official engagements with the International Monetary Fund.
According to a press statement sighted by GhanaWeb, the IMF support will provide a “balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the COVID-19 pandemic, and recently, the Russia-Ukraine crisis.”
The International Monetary Fund (IMF) on the same day confirmed that the Government of Ghana had run to them for a financial bailout to stabilize the economy.
Announcing this on microblogging site - Twitter - on Friday, July 1, 2022, the IMF said it was poised to assist Ghana to have a homegrown economic programme.
"We confirm Ghana officials have been in touch to request IMF support for a homegrown economic program. The Fund stands ready to assist Ghana & looks forward to starting initial discussions in the coming weeks," the IMF stated.
Meanwhile, IMF negotiations with Ghana began on Friday, July 6, 2022.
Source: ghanaweb.com
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This is what we call knee jerk reaction. 'Ye ti sika su, nen su ekom di ye' only to go and wear jersey number 17 for Ghana at IMF. Mahama has become Akuffo Addo's prophet. Hear John Mahama ' you don't know what it is like to be president ' , now he knows what it is like to be president by going in for the number 17 jersey, IMF here he comes. Very soon you will hear Japanese former prime minister Shinzo Abe's assassination is also affecting the economy of Ghana. We said NO to E-levy, you say chinchinaaa E-levy is a must, you got parliament to pass it , why are you not collecting but decided to run to IMF for a bail after locking yourself up in cells. Any government with foresight will not bank it's hope in a tax that can easily be avoided, if i don't tranfer money electronically i won't pay E-levy, it's that simple. It's not everything that is right to do that is wise to do, that's why God gave human beings wisdom, Kennedy Agyapong said it all. NPP, book, book, book 99.9%, ' efia nyansa' ( home sense) 0 %. . Road minister suspends payment of road tolls only to say without E-levy he can't pay road contractors . Okay E-levy has come, pay road contractors. Vehicles from Burkina Faso, Mali and Niger come into Ghana's ports, load heavy goods and use our roads for free in and out, is there ' efia nyansa ( home sense) in this? Akuffo Addo said it all ' Ghana, ya ye mobo du du'. meaning Ghana is in a pathetic state @ 2016, today what is the state in which Ghana finds itself , IMF, It's Mahama's Fault. Five years after Mahama handed over power he's still to be held responsible for anything negative. IMF should print number 17 jersey for Akuffo Addo to wear before they sign any agreement. Nana ooo nana, 17 oooo17.
Government should abolish the ex-gratia of all article 71 and pump money into the agric sector to boost food production.