In a recent town hall meeting in the UK, Finance Minister Dr. Mohammed Amin Adam announced that President Akufo-Addo has directed the disbursement of GH¢1.5 billion to assist customers affected by the banking sector clean-up operation. This move is aimed at alleviating the financial burden of individuals who invested in the affected banks.
Dr. Amin Adam emphasized that the disbursement is expected to be completed between now and October. He acknowledged that while individuals are responsible for their investment decisions, the government is committed to providing support. He noted that some customers have suffered greatly, with some even losing their lives or resorting to suicide.
This directive is an addition to the initial bailout granted to all affected customers. The government has also successfully restructured its debt of $5.1 billion with official creditors and $13.1 billion with Eurobond holders, marking a significant milestone in the country’s economic recovery.
The government’s efforts to address the banking sector clean-up have been ongoing, with a commitment to paying customers of Gold Coast Fund Management Company Limited, as announced by the Minister of State designate at the Ministry of Finance, Abena Osei-Asare, earlier this year .
Ruth Abla ADJORLOLO
