The Akufo-Addo administration has reportedly started talking to the IMF about a bailout, but there are already hints that if it wants to function under a state of emergency, it will have to abandon some of its major objectives and initiatives.
In order to save money, IMF specialists will halt construction of the $450 million National Cathedral and the President’s use of pricey private planes to go to Ghana from Europe.
According to minister of trade and industry Alan Kwadwo Kyerematen, per report IMF officials would assist the government in streamlining its operations and establishing fiscal discipline.
The number of ministers, who Ghanaians have forgotten about, may need to be reduced as a result of this financial limitation.
According to the government, 67,000 young people were hired for the Nation Builders Corps and paid GHC 700 and more (NABCO).
By requiring parents to cover their children’s tuition, Ken Ofori-Atta has long shown his willingness to abandon or reexamine the Free Senior High School (Free SHS) concept.
Free SHS, according to former finance minister Seth Terkper, is unsustainable and consumes a lot of resources from the government.
“Totally free SHS is unsustainable. You borrow to pay off debt. Total income comprises compensation and interest. Borrow to cover debts and promote free SHS. Not acceptable, he said.