Home Business Gov’t secures $100 million earmarked to combat COVID-19

Gov’t secures $100 million earmarked to combat COVID-19

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The $100 million earmarked for the fight in opposition to Covid-19, declared by President Nana Addo Dankwa Akufo-Addo, has been secured and out there to be disbursed, Finance Minister Ken Ofori-Atta explained to Parliament on Monday.

He claimed the outbreak would price Ghana GH¢11 billion, but
urged Ghanaians to continue being steadfast.

Mr Ofori-Atta gave an assurance that the Authorities would do whichever it usually takes to combat the pandemic and cushion Ghanaians from the economic challenges ensuing from the outbreak.

The Minster was in Parliament to brief the Dwelling on actions the Government has adopted to maintain the overall economy owing to the disruption in brought on by Covid-19.

He even further gave information about the the Coronavirus Alleviation Programme and initiatives to limit the economic effect of coronavirus.

Last Saturday, parliament been given a ask for from the Govt to approve an settlement with the Entire world Financial institution for an total of $35 million to aid its operations in working with the pandemic.

The proposed settlement is in between the Govt of Ghana and
the Worldwide Improvement Affiliation (IDA), a subsidiary of the Globe Financial institution.

Mr Ofori-Atta introduced that GH¢300 million experienced been
disbursed to the Nationwide Health Insurance policy Authority to offer liquidity to
hospitals.

On the international exchange current market front, there had been elevated need for bucks, with a projected reduction in agricultural exports as perfectly as a typical shortage in foods offer if the pandemic intensified, he reported.

He predicted a drop in import volumes and values, which
would guide to shortfalls in import duties by GH¢80 million.

Also, a reduction in imports will gradual down creation in
Ghana.

The Finance Minister indicated that trade volumes and values
cutting down as a outcome of the pandemic, there would be an elevated demand from customers for gold
which would have a constructive impression on the overall economy.

Nevertheless, social distancing may well lead to reduction in
productiveness and loss of employment.

At the ports, the outbreak had lowered arrival of containers
and the Finance Minister reported all must be accomplished to protect the nation’s
foreign reserves.



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