Gov’t Considering Cash Transfers To Vulnerable Groups During Lockdown

The Minister of Finance, Ken Ofori-Atta, has said the government is considering the option of cash transfers to the most vulnerable groups in society in the wake of the coronavirus pandemic.

The possible cash transfers will be targeted at providing relief for the poorest in society.

Major economic hubs like Accra, Kumasi and Tema are currently under a partial lockdown as the government tries to contain the novel coronavirus pandemic.

Aside from a few food vendors and traders, there was no economic activity that is known to sustain a lot of Ghanaians who live hand-to-mouth.

The Government has already announced a GHS1 billion Coronavirus Alleviation Programme to provide relief to sectors of the economy expected to be massively hit by the impact of the pandemic.

In his address to Parliament, the Finance Minister noted that the novel coronavirus pandemic will have a fiscal strain of GHS9.505 billion on Ghana.

Mr. Ofori-Atta also announced that the GHS1 billion Coronavirus Alleviation Programme will be funded from the Ghana Stabilisation Fund.

The Minister is also seeking the support of Parliament to amend the relevant laws to lower the cap of the Stabilisation Fund from $300 million to $100 million to enable the government scoop the excess funds to bridge the gap created by the economic impact of the pandemic.

See Also:

source: CNR

Click on the comment box below and leave us your thoughts. Thank you

LEAVE A REPLY

Please enter your comment!
Please enter your name here