Govt’s disbursement of ¢1.5b to assist customers affected a political gimmick – Lecturer
A Lecturer at the Pentecost University, Dr. Alexander Amo Baffuor has described President Akufo’s Addo’s directive to the Finance Minister to disburse ¢1.5 billion to assist customers affected by the banking sector clean-up exercise, as mere political gimmick.
The Finance Minister Hon. Dr. Amin Adam, disclosed the government’s plan during a UK Town Hall meeting over the weekend.
“Mistakes were made and people were not well-informed, and they didn’t know who to consult to be advised, but we also know that the people who are affected are suffering, and we have heard that some people have died and others had to commit suicide.”
“This government is so caring that in the first place, we granted some bailout to all the affected and I want to tell you again that the President has directed that we do another bailout.
“So between now and October, we will release 1.5 billion Ghana Cedis to the affected people,” the Finance Minister said.
But commenting further in an interview with Daakyehene Ofosu Agyemang, Morning Show Host of New York-based Adinkra Radio, Dr. Alexander Amo Baffuor said he doubts that the government made provision for this payment in the year’s budget, hence will not be in a position to pay the affected customers.
“I don’t think that this government at the moment is in a position to spend 1.5 billion Ghana Cedis to help those affected by the financial sector cleanup. I believe the government is just playing political gimmick with this issue. The finances of the government is not in a strong position to support such dolling out of huge sums of money. At the moment, inflation is high up and the government is working had to reduce it to gain some political points ahead of the elections. Granted that this money when released to the affected persons will ensure people spend and be comfortable, the other side is that it will also push inflation up. The implication for spending money not budgeted on the country’s economic indicators will be very bad.
“So, I am very surprised that the government has taken this decision at this time. This could only be done for political expediency. In 2020, we heard a similar announcement by the government to support the affected persons but they were not paid. I believe this announcement may also go without any payment to the affected “
Source: Adinkraradio.com
