The government has announced that it will inject $2 billion into the economy to stop the cedi’s continuous depreciation.
This is one of President Akufo-measures Addo’s to alleviate the hardships being faced by the people.
The government held a critical cabinet meeting to find solutions to the raging economic challenges, despite the cedi’s continued depreciation and recent increases in fuel and general goods prices.
The Jubilee House highlighted four measures approved by the government during its cabinet meeting on Wednesday in a Facebook post to help Ghanaians cope with economic hardships.
These include the reopening of the country’s land borders within two weeks, the government cutting appointee salaries by up to 30%, the Bank of Ghana raising policy rates to 17%, and the government pumping $2 billion into the cedi to save it.
Meanwhile, due to the country’s economic challenges, members of the Council of State have agreed to reduce their monthly allowances by 20% until the end of the year.
According to the Council’s Chairman, Nana Otuo Serebour II, the move is intended to help them identify with Ghanaians amid the country’s difficulties.