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 that, IMF will halt Akufo Addo’s private jet excursions, Free SHS, NABCO, and Cathedral according to the report.
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, 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 GH¢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.
“SHS that is entirely free is not tenable. To pay off debt, you borrow. Interest and compensation together make up total revenue. Borrow money to pay off debts and advance free SHS. Not right, he declared.