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24th June 2024 8:04:44 AM
1 min readBy: Abigail Ampofo

President Akufo-Addo has directed the Finance Ministry to release ¢1.5 billion to support customers impacted by the banking sector clean-up.
This announcement was made by Finance Minister Dr. Mohammed Amin Adam during a UK Town Hall meeting over the weekend.
Dr. Amin Adam highlighted that the President's directive requires the disbursement to be completed by October.
He emphasized the government's commitment to the well-being of Ghanaians, noting that individuals are responsible for their own investment choices, not the government.
"Ideally, government should not be held responsible for the investment decisions of individuals, but this government is so caring.
"Mistakes were made and people were not well-informed, and they didn’t know who to consult to be advised, but we also know that the people who are affected are suffering, and we have heard that some people have died and others had to commit suicide."
"This government is so caring that in the first place, we granted some bailout to all the affected and I want to tell you again that the President has directed that we do another bailout.
"So between now and October, we will release 1.5 billion Ghana Cedis to the affected people," he said.
Dr. Amin Adam has also announced the successful completion of Ghana's debt restructuring program with its official creditors.
The Karaga Member of Parliament highlighted that the government has successfully restructured $5.1 billion in debt with these creditors and has also finalized the restructuring of $13.1 billion with Eurobond holders.
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