President Akufo-Addo has ordered the Finance Ministry to allocate ¢1.5 billion to support customers impacted by the banking sector clean-up.
Finance Minister Dr. Mohammed Amin Adam announced this directive over the weekend at a UK Town Hall meeting, stressing that the funds must be disbursed by October.
He emphasized that the government prioritizes the welfare of the Ghanaian people, but clarified that individuals are responsible for their own investment decisions, not the government.
“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.
Dr. Amin Adam also announced the successful completion of Ghana’s debt restructuring program with its official creditors.
The Member of Parliament for Karaga noted that the government has successfully restructured $5.1 billion of debt with these creditors and completed the restructuring of $13.1 billion with Eurobond holders.