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Government to inject US$2 billion into economy to “rescue cedi”

President Akufo-Addo has approved measures to mitigate the economic hardship in the Ghanaian economy.

The government has hinted that it’ll pump about US$2 billion into the economy to rescue the depreciating cedi.

In a Facebook post,  the government said this is part of measures that has been adopted to salvage the economic crisis in the country.

MEASURES TO MITIGATE HARDSHIPS IN THE ECONOMY.#BouncingBackTogether#BuildingGhanaTogether pic.twitter.com/DDICjqxj2o

— Ghana Presidency (@GhanaPresidency) March 23, 2022

We’ve failed to resolve cedi depreciation

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Stephen Amoah, a member of the finance committee of Parliament, has said that successive governments, especially under the Fourth Republic, have failed to find long-term ways to stabilise the cedi.

The MP for Nhyiaeso said the continuous depreciation of the cedi under Ghana governments past and present shows that the country lacks a long-term plan to tackle the problem.

Speaking to Beatrice Adu on The Big Bulletin on Tuesday (22 March 2022), Amoah called for a collaborative effort to agree on a lasting national strategy for minimising the depreciation of the cedi against major trading currencies.

Government to cut salaries of appointees by up to 30%

The government could reduce the salaries of appointees by between 20% and 30%, asaaseradio.com understands from reliable sources.

The sources say discussions of the proposal are ongoing and the outcome will be made public after a cabinet meeting today (21 March).

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The move is to protect social interventions such as the School Feeding Programme.

According to the sources, critical among the matters under discussion is whether to maintain the 20% cut across the board or increase it.

Salaries of ministers, heads of state enterprises as well as heads of municipal and district assemblies will all be affected.

Source: Asaaseradio

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