President Akufo-Addo has directed the Finance Ministry to release GH¢1.5 billion to assist customers affected by the banking sector clean-up exercise.
Advertisement
This was announced by Finance Minister Dr. Mohammed Amin Adam during a UK Town Hall meeting over the weekend.
Dr. Amin Adam stated that the president’s instruction mandates the disbursement to be completed between now and October.
He emphasized that the government prioritizes the welfare of the Ghanaian people, acknowledging that while individuals are responsible for their investment decisions, the government is committed to providing support.
Advertisement
“Ideally, the 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 for advice. We know that those affected are suffering, and we have heard that some have died or committed suicide,” he said.
“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,” Dr. Amin Adam added.
He also revealed a successful debt restructuring program between Ghana and its official creditors. In addition to restructuring its $5.1 billion debt with these creditors, the government has also completed restructuring its $13.1 billion debt with holders of Eurobonds.
Leave a Reply