Government to cut down public sector workers.

 The Ghanaian government has set its sights on reducing the compensation of public sector employees by 0.5 percent of GDP. This measure, known as wage moderation, is part of the country's three-year program with the International Monetary Fund (IMF) aimed at achieving fiscal discipline and revitalizing economic growth.


According to the government's plan outlined in the program, the wages of public sector workers will be adjusted to strike a balance between burden sharing, productivity, and the government's capacity to pay.
While this move raises concerns about the stability of public sector employment under the IMF agreement, Dr. Mohammed Amin Adam, the Minister of State at the Finance Ministry, assures that there will be no freeze on employment. He clarifies that the government will continue to prioritize critical sectors of the economy for recruitment.
President Akufo-Addo stresses that the IMF bailout should not be viewed as an instant solution to the country's challenges. Nevertheless, he believes it will play a pivotal role in restoring confidence and creating new opportunities that have been limited in recent years.

During his address on May 28, the President acknowledged that accessing the IMF facility sends a positive message to trading partners, creditors, and investors. However, he also acknowledged that the immediate difficulties faced by the country will not disappear overnight.

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