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
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).
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.