President Nana Akufo-Addo has approved all the measures to cushion Ghanaians from hardship
President Nana Akufo-Addo will open Ghana’s land borders in two weeks.
They have remained shut for the past two years since the COVID-19 pandemic struck.
The opening of the borders is part of several decisions and measures being implemented by the government to salvage the ailing economy.
Also, the government has cut the salaries of its appointees by 30 per cent.
The Council of State has also decided to take a 20 per cent haircut in relation to its members’ allowances for the rest of the year 2022.
The Bank of Ghana also recently raised the policy rate by 250 basis points to 17 per cent.
This means the cost of borrowing will shoot up.
Additionally, the government is going to pump some $2 billion into the economy to help stabilise the cedi which has been falling in value to the dollar and other international currencies of trade for the past few months.
All the above measures have been approved by the President.
Finance Minister Ken Ofori-Atta is expected to give further details of these and other measures in an address to the nation on Thursday, 24 March 2022.
Source: classfmonline.com
