President Akufo-Addo has directed the Finance Ministry to disburse ¢1.5 billion to support customers affected by the banking sector clean-up exercise. Finance Minister Dr Mohammed Amin Adam announced this directive over the weekend during a UK Town Hall meeting.
Dr. Amin Adam emphasized that the President’s directive mandates the disbursement to be completed between now and October.
Speaking to the gathering, he highlighted the government’s commitment to the welfare of the Ghanaian people, noting that while individuals are responsible for their investment decisions, the government recognizes the suffering of those affected.”
“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,” he said.
In addition to this announcement, Dr Amin Adam disclosed the successful conclusion of Ghana’s debt restructuring program with its official creditors. He noted that the government has restructured $5.1 billion of its debt with these creditors and has also completed the restructuring of $13.1 billion with Eurobond holders.
By: Ekow Annan/newsalertgh.com
