Contrary to some media reports that the IMF has asked the government of Ghana to review its flagship programs as part of the latest program with the fund, this website can confirm that government had already taken the decision way back in March 2022 before its latest program with the IMF which started in July 2022.
The government took the decision to review 16 priority flagship programmes after a 3-day meeting at the Peduase Lodge.
The Minister for Information, Mr Kojo Oppong Nkrumah, was extensively reported by the media as saying that “cabinet has concluded its deliberations and His Excellency President Nana Addo Dankwa Akufo-Addo, has taken some decisions aimed at mitigating the impact of the global difficulties on Ghana.”
“All the 16 flagship programs are up to be looked at. The President has directed that the flagship programs should be protected and fully implemented to ensure that the impact is achieved. However, he wants it done within the constraints of item number 2 which is the fiscal framework we are working with. If based on the caps that we are working with we will have to rescope a particular flagship program, we will do it and see how much we can achieve.”
The Minister told the media that cabinet had undertaken extensive appraisal of the performance of its programmes and discussed the impact of the global economic difficulties on the economy and Ghanaians in general.
Mr Oppong Nkrumah was quoted as saying: “President Akufo-Addo approved a number of far-reaching measures aimed at mitigating the depreciation of the cedi, ensuring expenditure discipline and providing relief in the face of global fuel price hikes and inflation as well as ensuring that priority programmes meant to grow the economy are protected.”
The following links, which contain media report on the March 2022 announcement is being provided for the avoidance of doubt.