President Akufo Addo has provided reassurance that the IMF extended credit facility program with Ghana will not impact the nursing and teacher training allowance.

In mid-May 2023, the IMF approved a 36-month arrangement worth US$3 billion for Ghana. The initial tranche of US$600 million was disbursed promptly.

However, the IMF bailout package for Ghana comes with certain conditions aimed at addressing economic challenges, ensuring fiscal discipline, and promoting sustainable economic growth.

Despite suggestions from some economists to cancel the payment of nursing and teacher trainee allowances for fiscal reasons, Senior Presidential Advisor Yaw Osafo-Maafo, speaking on behalf of President Akufo-Addo, affirmed during the 175th Anniversary and Prize Giving Day of the Presbyterian College of Education that the government had strongly safeguarded the nursing and teacher trainees allowance as a social intervention program during negotiations with the IMF.

“Teacher trainees present, I know that the difficulty in the economic landscape which has resulted in government’s signing up for a program with International Monitory Fund IMF may cause you some concern. But none of the allowances of the teaching profession will be affected with our program with IMF. There were certain things which are not to be touched and the teacher allowances was on of such protected allowance. The difficulty in prompt payment is coming from our own mobilization of resources and not the IMF once you have it you can be sure that teachers allowances and the rest of it will be honoured appropriately”.

The president reaffirmed government's dedication to teacher education and the teaching profession, emphasizing the importance of ensuring quality education.

He also highlighted the implementation of licensing for teachers as a significant measure taken to restore dignity and enhance professionalism within the teaching profession

“The introduction of licensing examination for teachers for example was done in the utmost good fate. It is aimed at lifting the image of the profession and avoiding situation where unqualified persons could pose as teachers and in the process bring the profession into disrepute”.

He added that “it is my expectation that interventions such as the distribution of laptops and payment of continuous professional development allowance to teachers will systematically improve the capacity and morale among the teaching profession and our teachers”.