Akufo-Addo, ministers should refund 50% of their salaries - Franklin Cudjoe

Ghana runs to the IMF for financial bailout

Fuel coupon allocations slashed by 50%

No more private jets, Franklin Cudjoe to Akufo-Addo

IMANI Africa President, Franklin Cudjoe, has said for there to be an economic turnaround, President Nana Addo Dankwa Akufo-Addo

Read full article.and his ministers must refund 50% of the salaries they have taken in the last 3 years.

He further said, going forward, their current salaries must be slashed by 60%.

Among other requests made by the IMANI Africa President were the abrupt end to the payment of ex-gratia and no more flying of private jets for foreign trips by President Akufo-Addo.

Bringing this to bear in a Facebook post sighted by GhanaWeb, Franklin Cudjoe said, "For going to the IMF, the President and ministers should refund 50% of all salaries earned in the past 3 years. Also, reduce current salaries by 60% & STOP ex-gratia payments. No more private jets! Remember Sri Lanka!"

Salaries of Akufo-Addo, appointees, ministries, and others cut by 30%

Meanwhile, President Nana Addo Dankwa Akufo-Addo on Saturday, July 9, 2022, announced that his salary and that of all his appointees have been cut by 30%.

The 30% cut also affects the expenditure of ministries, governmental agencies and departments.

Addressing Muslims at an Eid-Ul-Adha ceremony on Saturday, President Nana Addo Dankwa Akufo-Addo indicated that fuel coupon allocations had also been slashed by 50%, as well as other expenditures suspended due to the current economic challenges.

He entreated Ghanaians to sacrifice to help the government navigate through the wobbling economy.

“We are all going to have to make some sacrifices to afford us the space to navigate the troubled waters of the current economic difficulties. The expenditure of ministries, departments, and agencies has been cut by 30 percent. The salaries of all appointees including myself have been reduced by 30 percent. Fuel coupon allocations have been slashed by 50 percent and other expenditures suspended," he stated.

Ghana runs to the IMF for financial bailout

It would be recalled that President Nana Addo Dankwa Akufo-Addo on Friday, July 1, 2022, instructed the Finance Minister, Ken Ofori-Atta, to commence official engagements with the International Monetary Fund.

According to a press statement sighted by GhanaWeb, the IMF support will provide “balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the COVID-19 pandemic, and recently, the Russia-Ukraine crisis.”

The International Monetary Fund (IMF) on the same day confirmed that the Government of Ghana had run to them for a financial bailout to stabilize the economy.

Announcing this on the microblogging site - Twitter - on Friday, July 1, 2022, the IMF said it was poised to assist Ghana to have a homegrown economic programme.

"We confirm Ghana officials have been in touch to request IMF support for a homegrown economic program. The Fund stands ready to assist Ghana & looks forward to starting initial discussions in the coming weeks," the IMF stated.

Meanwhile, IMF negotiations with Ghana began on Friday, July 6, 2022.

ESA/BOG