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Finance Minister to seek proper approval in the wake of COVID-19

The Minister for Finance, Ken Ofori-Atta told Parliament on Monday he would be in the House on Tuesday 31st March 2020 to seek the appropriate approval to deal with the fight of Coronavirus that is spreading in the country. 

According to him in this moment of history as a people we need to stand together to deal with the COVID-19 pandemic to keep Ghanaians alive and safe to have a future that would be built on heritage.
 
He commended the Minority for their insightful comments when he made a presentation on the floor of the House on the financial implication and how the economy would be affected in the wake of the COVID-19 curb.

“We need to push in one direction, as a people the issues that have to be addressed are technical issue that we can take care of as we see major empires falling, it is not about what reserves you have but really the rules are being rewritten”. 

In his address to the House yesterday, he noted that the Bank of Ghana and the Finance Ministry have engaged commercial banks to discus supporting the private sector to mitigate the impact of the coronavirus pandemic.  

Mr. Ofori-Atta noted that a syndication facility of three billion Ghana cedis would be given to support industries especially those in the pharmaceutical, hospitality, manufacturing service industries as mention by the President.
 
Granting of six-month moratorium of principal repayment for selected businesses and reduction of interest rate priced off the Ghana Reference Rate (GRR) by 200 basis points at two percent per annum.

Kwaku Sakyi-Danso/Ghanamps.com  

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