COVID-19: Akufo-Addo To Launch 100bn 'Obaatanpa' Program To Revitalize Economy
The economy of a lot of countries have been severely hit by the coronavirus pandemic; and Ghana has not been spared according to Finance Minister, Ken Ofori-Atta
Mr. Ofori Atta who describes COVID-19 as more than a health crisis indicated that the IMF is predicting that majority of countries will have their economy suffer as a result of the pandemic.
"COVID-19 is far more than a health crisis. Ghana's economy has not been spared by the social impact of the disease. Several sectors and persons have been severely affected" he stated.
However, he says “we will not be daunted by this crisis...Government will continue to do what it has to do to protect lives and livelihoods of Ghanaians" adding "we are up to the task”
"Mr. Speaker, as stated earlier, the outbreak of the pandemic is having a negative impact on the financial sector here in Ghana and across the world. All over the world, central banks are being relied upon by governments to find the liquidity to tackle the socio-economic difficulties unleashed by the pandemic. The Bank of Ghana has stepped up to the challenge and announced various policy measures to help support the economy and financial institutions in order to cushion the adverse impact of Covid-19 on the economy. It is important to stress that this has been possible because of the responsible and competent management of both the fiscal and monetary space since 2017"
Ghana’s recovery plan
Ken Ofori Atta who was presenting the Mid-year and Supplementary Budget Review in Parliament, Thursday, said a 100 billion program will be launched by the President to revitalize the economy due to the impact of COVID-19.
The program is dubbed 'Ghana Cares Obaatanpa Programme'
He has also added that through the good leadership and international goodwill brought on by effective management of the economy, "we've been able to raise GH¢20 billion to protect the vulnerable, our businesses and our dignity as a nation"
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