Watch Video: IMF To cancel Free SHS, NABCO, National Cathedral, and other significant projects - CastinoStudiosgh

Watch Video: IMF To cancel Free SHS, NABCO, National Cathedral, and other significant projects - CastinoStudiosgh

The Herald Newspaper reports that the Akufo-Addo government has initiated bailout discussions with the IMF, but there are already clues that it will have to give up some of its significant plans and projects if it wants to operate under a state of emergency.

IMF experts will stop the $450 million National Cathedral and the President’s use of expensive private jets from Europe to Ghana to save money.

Alan Kwadwo Kyerematen, minister of commerce and industry, said IMF staff will help the government streamline its procedures and establish fiscal discipline.

This fiscal constraint may entail lowering the number of ministers, whom Ghanaians have lost sight of.

The government claims it engaged 67,000 youths in the Nation Builders Corps and paid them GHC700 and more (NABCO).

Ken Ofori-Atta has long emphasized his readiness to let go or rethink the Free Senior High School (Free SHS) idea by having parents pay tuition for their kids.

Former Finance Minister Seth Terkper said Free SHS uses a lot of government resources and is unsustainable.

“Free SHS is unsustainable. You borrow to pay off debt. Total income comprises compensation and interest. Borrow to cover debts and promote free SHS. Not acceptable”, he said.

However, the government is yet to come out with what it will sacrifice for the IMF bailout, and we pray it turns out well so that it won't take away a lot from the poor Ghanaians who are already swallowed by the hardships of the economy.

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