Economic Hardship: Ghana Reduces Salaries Of Appointees By 30%

(AFRICAN EXAMINER) – The Ghanaian government has stated that it will embark on a 30 percent salary cut for its appointees.
This is part of plans introduced by the government to reduce the economic hardship in the country.
The presidency announced this on Twitter on Wednesday, saying that all measures have been approved by Ghanaian President Nana Akufo-Addo.
Other measures are reopening of land borders in two weeks.
African Examiner writes that the borders have remained closed since the beginning of the COVID-19 pandemic in 2020.
Ghana’s central bank also issued a policy rate of 250 basis points to 17 percent; this implies that the cost of borrowing will rise up.
Also, the government is going to pump $2 billion into the economy as this will assist to stabilize the cedi (Ghana’s currency) which has been falling in value to the dollar and other international currencies of trade recently.
Ghana’s finance minister, Ken Ofori-Atta, is expected to address and explain in detail the measures been taken to curtail the present economic challenges and other issues on Thursday.
Also, Ghana’s council of state has decided to reduce members’ monthly allowances by 20 percent for the rest of this year.
Chairman of the council of state, Nana Otuo Serebour II, said: “This move is our way of contributing our widow’s efforts towards economic recovery.”