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The $100 million dollars Covid-19 response funds announced by President Akufo-Addo are not ready as Ghana applies to world bank and IMF for funds, Finance Minister, Ken ofori-Atta has announced to parliament.

President Akufo-Addo in an address last week, disclosed the minister had been directed to make the funds available to respond to the disease which has infected 6 in the country so far.

But briefing parliament about the fiscal impact of Covid-19 which has affected the international capital market, Mr. Ofori-Atta disclosed Ghana has applied to the World Bank to tap into a $12 billion to fast track Covid-19 facility and to the IMF for  $10 billion facility to address the deadly virus.

The minority is however not enthused about the revelation of the finance Minister, as former deputy finance Minister Cassiel Ato Forson argued the minister should have given the house further  details about the $100 million dollars for Covid-19.

Minority leader Haruna Iddrisu also accused the minister of not adhering to the President’s directive to make money available to fight the disease. The Tamale South MP also demanded details on conditionalities for accessing the world bank and IMF facilities.

According to the minister, government will augment allocations from the two institutions with local resources, adding that credit facility is for 5 years with no interest or conditionality.

SOURCE: thebftonline.com l ghana

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