President Nana Addo Dankwa Akufo-Addo has said regardless of the impact of Covid-19 and the Russia-Ukraine war on the Ghanaian economy, no public sector worker was laid off.
“Over the course of the year, the government has kept every single public sector worker on the payroll. There have been no job losses. Every public sector worker continues to keep his or her job. Even at the peak of the dual global health and economic crises of the last three (3) years, the government ensured that no public sector worker was taken off the payroll as a result of the crisis”
He said the posture of the government today is to ensure all public sector workers continue to stay on the payroll while it works to restore the economy. He was speaking in Bolgatanga when the Upper East Region, for the first time, hosted the national celebration of International Workers’ Day (May Day).
He said the government’s commitment to increases in the national daily minimum wage, base pay, and pension payments, amongst others, despite their fiscal impact on the economy, was an indication that the government is very empathetic towards Ghanaians. The president reiterated the government’s commitment to ensure that the lives of public sector workers are improved.
Speaking on the Domestic Debt Exchange Programme that generated public discourse, the president said it was necessary because an attempt to risk defaulting on the payment of the country’s public debts would attract severe consequences.
Despite the back and forth that characterised discussions with stakeholders on the Domestic Debt Exchange Programme, the president was thankful to Ghanaians for the overwhelming participation of bondholders.
“The support, cooperation, input, and feedback the government received to eventually implement the Domestic Debt Exchange Programme were unprecedented and reassuring”, he added.
He said the government’s decision last year to exempt all pension funds in the Domestic Debt Exchange Programme was based on the impact it could have on the pension funds of workers.
Speaking on the status of the IMF programme negotiations, the president said Ghana has continued to work tirelessly to complete all prior actions required to present the country’s Programme to the IMF Executive Board for approval after achieving a Staff Level Agreement with the IMF in December 2022 six months after beginning the negotiations in July 2022.
“We have also made substantial progress on the debt exchange program, as well as on our engagements with bilateral creditors to secure the financing assurances required for the IMF Programme. We are assured that the next round of meetings of the Paris Club will result in the formation of the Official Creditor Committee, inclusive of China, and the provision of financing assurances”, he added.
He commended the IMF and the World Bank for being supportive in the journey so far, and said he expects “the IMF Board to consider Ghana’s programme for imminent approval after the financing assurances are provided.”
May Day is celebrated annually on the 1st of May to commemorate the struggles and gains made by workers and labour unions.
Source: A1Radioonline.com|101.1Mhz|Bolgatanga|Ghana
