The Finance Ministry has been directed by President Akufo-Addo to distribute ¢1.5 billion to consumers who felt the impact of the banking sector cleanup exercise.
This instruction came out over the weekend during a UK Town Hall meeting by Finance Minister Dr. Mohammed Amin Adam.
He stated that the payment must be finished by October in accordance with the President’s directive.
Also he added 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.
He stated:
“Ideally, government should not be held responsible for the investment decisions of individuals, but this government is so caring.
“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 bailout 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,”
The effective completion of Ghana’s debt restructuring program with its official creditors has also been confirmed by Dr. Amin Adam.
The Karaga Member of Parliament emphasized that the government has successfully restructured its $5.1 billion debt with these creditors and has finished restructuring its $13.1 billion debt with holders of Eurobonds.
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