It immediately disbursed the first tranche of US$600 million.
US$3billion IMF bailout for Ghana however comes with a set of conditionalities aimed at addressing the underlying economic challenges ensure fiscal discipline and promote sustainable economic growth.
Some economists have averred that payment of nursing and teacher trainee allowance must be cancelled for fiscal space.
However, speaking on behalf of President Akufo-Addo on Saturday July 1, 2023 during 175th Anniversary and Prize Giving Day of the Presbyterian College of Education at Akropong-Akuapem in the Eastern region, Senior Presidential Advisor Yaw Osafo-Maafo stated that nursing and teacher trainees allowance is one of the social intervention programs the government strongly protected during the negotiation with the IMF.
“Teacher trainees present, I know that the difficulty in the economic landscape which has resulted in government’s signing up for a program with International Monitory Fund IMF may cause you some concern. But none of the allowances of the teaching profession will be affected with our program with IMF. There were certain things which are not to be touched and the teacher allowances was on of such protected allowance. The difficulty in prompt payment is coming from our own mobilization of resources and not the IMF once you have it you can be sure that teachers allowances and the rest of it will be honoured appropriately”.
He expressed commitment of government to the teacher education and profession to ensure quality education.
President Akufo-Addo mentioned for instance that the introduction of licensing for teachers is a step to restore dignity in the profession.
“The introduction of licensing examination for teachers for example was done in the utmost good fate. It is aimed at lifting the image of the profession and avoiding situation where unqualified persons could pose as teachers and in the process bring the profession into disrepute”.
He added that “it is my expectation that interventions such as the distribution of laptops and payment of continuous professional development allowance to teachers will systematically improve the capacity and morale among the teaching profession and our teachers”.