The novel coronavirus continues to have dire effects on businesses and as such the economies of countries across the globe. To reduce these effects, governments all over are putting in measures to prevent their respective economies from collapsing.
The government of the Nana Addo Dankwa Akufo-Addo, is working tirelessly to ensure that the Ghanaian economy survives the pandemic and as such several procedures are being put in place to mitigate the effects and to help sustain dwindling businesses.
The president, while addressing the nation on the measures taken against the spread of coronavirus, his 9th address since the country first recorded a case on 12th March, 2020, announced that “government is putting in place a Resilience and Recovery Plan, with the overarching aim of finding more resources to strengthen the productive sectors of the economy to ensure sustained economic activity”.
Among the measures, he said, is the rolling out, in this month, of a soft loan scheme of six hundred million cedis (GH¢600 million), to support micro, small and medium scale businesses.
He stated that as it is already a public knowledge, the Bank of Ghana has also instituted a three billion cedis (GH¢3 billion) credit and stimulus package to help revitalise industries, especially, those in the pharmaceutical, hospitality services and the manufacturing sectors.
President Nana Addo also mentioned that the Minister of Finance, Ken Ofori-Atta, is working tirelessly to find additional resources to supplement these amounts and to finance the construction of 88 district hospitals and 7 regional hospitals which would be announced at the appropriate time to Parliament and the nation.
The decision to construct 88 district hospitals and 7 regional hospitals across the country was announced by President Akufo-Addo in his 8th address to the nation.