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Ghana CARES

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Ghana COVID-19 Alleviation and Revitalisation of Enterprises Support (Ghana CARES) was launched by Nana Akufo-Addo on 18 November 2020 in Accra.[1][2] Some source also claimed it was launched by Yaw Osafo-Maafo.[3] The program is in two phases.[4] It is also known as "Obaatan Pa”.[5] The program is claimed to serve as a 'blueprint' for Ghana's economy recovery post COVID-19.[6][7]

Phases

The initiative was sequenced in two phases:

  1. Stabilisation Phase that would run from July to the end of the year (2020); and
  2. Medium-term Revitalisation Phase (to be implemented from 2021 to 2023) would revitalise the economy and accelerate the Ghana Beyond Aid transformation agenda.[8][9]

Aims

  • To inject GH¢100 billion into Ghana's economy in 3years to aid in the protection of lives.
  • Revive and Revitalise businesses
  • Stimulate and transform the economy
  • Narrow the fiscal deficit.[10]

Partners

  1. IMF
  2. World Bank
  3. African Development Bank Group
  4. EU[4]

References

  1. ^ "Govt launches GH¢100 billion Ghana CARES programme". www.ghanaweb.com. 2020-11-18. Retrieved 2020-11-20.
  2. ^ "Ghana CARES programme launched to revitalise the economy". www.ghanaweb.com. 2020-11-19. Retrieved 2020-11-20.
  3. ^ Agency, Ghana News (2020-11-19). "Ghana CARES programme launched to revitalise the economy". News Ghana. Retrieved 2020-11-20.
  4. ^ a b Appiah, Augustine. "Ghana CARES programme launched to revitalise the economy". www.gna.org.gh. Retrieved 2020-11-20.
  5. ^ "Establishment of National Development Bank on course - Osafo-Maafo". www.ghanaweb.com. 2020-11-20. Retrieved 2020-11-20.
  6. ^ "Govt launches GH¢100bn economic recovery blueprint". Graphic Online. Retrieved 2020-11-20.
  7. ^ Petetsi, Julius Yao (2020-05-29). "Ghana: Govt to Roll Out Economic Rescue Programme--Finance Minister". allAfrica.com. Retrieved 2020-11-20.
  8. ^ "Government to launch ¢100bn "Ghana Cares Obaatan Pa" programme – Ofori-Atta". MyJoyOnline.com. 2020-07-23. Retrieved 2020-11-20.
  9. ^ "Ghana CARES programme officially launched to revitalise economy". GBC Ghana Online. 2020-11-19. Retrieved 2020-11-20.
  10. ^ "Govt to inject GH¢100bn to rescue economy". Africa Global Radio. 2020-07-24. Retrieved 2020-11-20.


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