According to President Nana Addo Dankwa Akufo-Addo, projects that were put on hold after attempts to obtain a bailout from the International Monetary Fund (IMF) will soon restart.
The President provided this reassurance during his 29th address to the country, which also included an update on the IMF program and measures taken to stop the spread of the coronavirus.
In his update, the President cautioned that the IMF program would not immediately put an end to Ghana’s economic problems, but he nonetheless expressed confidence that it would boost the country’s economy.
“Fellow Ghanaians, access to the IMF facility will not spell the immediate end of the difficulties we are in presently, but the fact that we have been able to negotiate such a deal sends a positive message to our trading partners, creditors and investors; a positive message that will be underpinned by the discipline, hard work and enterprise with which we execute the programme.
“It should lead to the restoration of confidence and the reopening of avenues that had been closed to us this past year and a half. It should also lead to the resumption of many of the infrastructural projects that have stalled.”
President Nana Addo Dankwa Akufo-Addo
After months of discussions, the International Monetary Fund (IMF) Executive Board granted a $3 billion loan line for Ghana on May 17. This would support the country’s struggling economy. The facility’s initial payment of $600 million hit the nation’s account, with a reminder that the remaining $2.4 billion will be released over the next two years.
Covid-19 Was Not Utilized As A Pretext For Unethical Behavior
According to President Nana Addo Dankwa Akufo-Addo, he gave the order to examine the Covid-19 spending.
He said that the Covid crisis was not used for corruption in his speech to the nation on May 28.
“Let me make it clear that COVID expenditures, essentially unplanned, have been subject, at my instigation, to audit by the Auditor-General, and are going through parliamentary processes. We all deserve to be reassured that the crisis was not used as a cover for corrupt practices”
President Nana Addo Dankwa Akufo-Addo
Despite Ghana receiving free vaccines to fight the virus, he added, immunizing the populace was exceedingly expensive. In addition to stating that “vaccination was expensive,” he added that “fumigation and cleansing of markets, schools, and other public places cost a lot of money.”
As stated by President Nana Addo Dankwa Akufo-Addo, Ghana’s Covid-19 crisis is now over. He emphasized that the emergency was resolved and that “this too had passed,” as he had earlier promised, “This too shall pass.” He also stated that there are no Covid 19 cases that are critical in Ghana.
Pre-departure testing and testing at all points of entry are no longer requirements for all travelers, according to a recent announcement from the Ghana Health Service (GHS). The COVID-19 Health Declaration Form for overseas travelers had been suspended, according to the GHS.
While addressing other expenditure issues, President Akufo-Addo reiterated that the government will keep charging the levy to close the budget deficits brought on by the pandemic.
“The COVID Health Recovery Levy that was introduced to help fill some of the expenditure holes might not be the most popular tax, but I entreat all of you to bear with us.
“Let me make it clear that COVID expenditures, essentially unplanned, have been subject, at my instigation, to audit by the Auditor-General, and are going through parliamentary processes. We all deserve to be reassured that the crisis was not used as a cover for corrupt practices.”
President Nana Addo Dankwa Akufo-Addo
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