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Govt to roll out economic rescue programme—Finance Minister
The government is developing a three-year COVID-19 alleviation programme to be known as “The Ghana Cares Programme” to help rescue the economy from the clutches of the coronavirus pandemic.
The impact of the coronavirus disease on the Ghanaian economy could last for three years, the government had predicted.
“To address this, the President has directed the Ministry of Finance to come up with stabilisation and a revitalisation plan for the country.
“In this regard, the Ministry of Finance is developing a three-year COVID-19 alleviation and revitalisation of enterprise support programme; ‘The Ghana Cares Programme’ to help stabilise and revitalise the country’s economy.
“We are confident that this programme will lead us on a journey of achieving a Ghana Beyond Aid,” Finance Minister, Ken Ofori-Atta told Parliament in Accra yesterday.
Mr Ofori-Atta made this known in an explanatory statement when he laid a report on the limit of borrowing by government under subsection (6) of Section 30 of the Bank of Ghana Act in the coronavirus emergency.
According to him, the Bank of Ghana had released GH¢5.5billion of a GH¢10 billion COVID-19 support fund in line with the emergency financing provisions under the Bank of Ghana Act, to deal with shocks that had accompanied the coronavirus pandemic.
The coupon rate, he said, was pegged at the prevailing monetary policy rate with a 10-year tenure and a two-year moratorium on both principal and interest payment.
Government, Finance Minister said remains unwavering in protecting lives and sustaining livelihoods and rebuilding the country’s agric and industrial sector so as to position the country on the path of growth.
“Mr Speaker, these are sobering times and a test of our own humanity and how to be our brothers’ keeper,” he preached.
Even as the country develops the ‘Ghana Cares Programme’, he said it was time burdens were shared for the common good of the country.
“Whatever stimulus package would help us claw back our five per cent GDP that we’ve lost, Mr Speaker, we intend to do it.
“It is a period of sacrifice; burden sharing and we have to avoid any spiritual stupor by ensuring that everyone is taken care of.
“In this vein, we would like to live on some of Gandhi’s principles – a period of three years of politics with principles, wealth that comes from work, commerce that is through morality, pleasure that is conscionable, education of character, science that has a human face and work that has sacrifice attached to it.
“We are confident that we will come out of this much stronger and much greater. So we remain more hopeful that our land will overflow with prosperity and we will leave no one behind as we build a greater society.”
The programme is a top-up to the GH¢1 billion Coronavirus Alleviation Programme Business Support Scheme to cushion small and medium scale enterprises against the vagaries of the coronavirus pandemic.
BY JULIUS YAO PETETSI
The Ghana First Alliance, a movement, is today staging a protest in Accra against the renewal of the mining licence of Gold Fields, a mining company owned by a South African citizen operating in Ghana.
The demonstration, dubbed “Operation No Contract Renewal: South Africa Must Go,” is being held to demand that government does not renew the company’s licence.
The group says their protest is linked to recent xenophobic attacks in South Africa by a protest group known as “march to march.”
They claim that many Ghanaian-owned shops were looted, while others were attacked, with some cases leading to deaths.
They also say the situation forced the Ghana government to evacuate thousands of Ghanaians from South Africa back to Ghana.
Speaking to some of the protesters, they said they will move to several key locations in Accra, including the Ministry of Lands and Natural Resources, the Ministry of Foreign Affairs, and the Jubilee House, where they intend to present their petition.
The protesters are calling on government to terminate the Gold Fields contract and hand over the mining concessions to capable Ghanaians to manage.
By: Jacob Aggrey
Ghana’s First Lady, Lordina Mahama, has made a generous donation to the country’s national female Under-17 and Under-20 teams – Black Maidens and Black Princesses- as they continue preparations for major international assignments.
The donation, made on Friday, May 22, was presented on behalf of the First Lady by the Minister for Gender, Children and Social Protection, Agnes Naa Momo Lartey, at the GFA Technical Centre in Prampram.
The gesture forms part of efforts to motivate and support Ghana’s young female footballers as they prepare to represent the country on the international stage.
The donation included essential food items and toiletries aimed at supporting the welfare and well-being of the players and technical teams.
The donation included cartons of Milo, T-rolls, soft drinks, toiletries, and a range of essential supplies aimed at supporting the welfare of the players, enhancing camp conditions, and easing preparations ahead of their respective assignments.
The Black Maidens are currently engaged in preparations for the FIFA U-17 Women’s World Cup qualifiers and are set to take on Liberia women’s national under-17 football team in the second-leg encounter in Liberia this weekend.
Meanwhile, the Black Princesses have already secured qualification to the FIFA U-20 Women’s World Cup after overcoming Uganda in the qualifiers, extending Ghana’s remarkable record to eight consecutive appearances at the tournament.
The donation by the First Lady was expected to boost morale within both camps while reinforcing national support for the young female footballers who continue to make the country proud.
