Akufo-Addo Cuts His Salary & Appointees’ By Unbelievable Percentage As Ghana Runs To IMF For Bailout [Read Details]
The government of Ghana, through Minister for finance, Ken Ofori-Atta on July 1, 2022 run to International Monetary Fund (IMF) for bailout from economic hardship before the country.
In a tweet made by the IMF, it confirmed the receipt of the government’s appeal and agrees to begin discussion, which has already started.
“We confirm Ghana officials have been in touch to request IMF support for a homegrown economic program. The Fund stands ready to assist Ghana & looks forward to starting initial discussions in the coming weeks,” IMF.
Due to the economic trauma of the country, especially on and caused by the government, the President of the Republic, Nana Addo Dankwa Akufo-Addo has pledged to sacrifice part of salaries of himself and that of his appointees.
In an address on July 9, 2022, at Islamic’s Eid-Ul-Adha celebration, the President has revealed, that the expenditure of ministries, departments and other public organizations has been cut by 30%.
He also added that his salary is cut by 30% and 50% off that of his appointees, in order to revive the economy.
“We are all going to have to make some sacrifices to afford us the space to navigate the troubled waters of the current economic difficulties. The expenditure of ministries, departments, and agencies has been cut by 30 percent. The salaries of all appointees including myself have been reduced by 30 percent. Fuel coupon allocations have been slashed by 50 percent and other expenditures suspended.”
The government has in several statements subjected the fall of Ghana’s economy to the outburst of COVID-19 and the recent Russian-Ukraine war.
Meanwhile, the discussion between the government of Ghana and the International Monetary Fund is still ongoing.
SOURCE: MyAfro Ghana