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Dr. Mohammed Amin Adam, the Minister of Finance, has asked the Contingency Fund for permission to spend GH₵500 million.
This is a component of the emergency response plans to deal with the impending food insecurity that is anticipated as a result of the eight regions of Ghana going through a dry season.
It happens only a few days after President Akufo-Addo gave the Finance Ministry the order to generate GH₵8 billion for a relief fund to help farmers who are suffering greatly from the prolonged drought.
The Minister stated in a letter to the Finance Committee of Parliament that “considering that we are eight (8) months into the implementation of the 2024 Budget and the proposed interventions are unplanned expenditure occasioned by a “force majeure”, Government cannot fund the request of GH¢8.36 billion solely from a reallocation of existing budget lines in the 2024 Budget.”
“In light of the foregoing, we write to request approval from the Finance Committee for the withdrawal of GH¢500 million from the Contingency Fund, in accordance with Article 177 subsection 1 of the 1992 Constitution, Section 36 subsection 1 of the Public Financial Management Act, 2016 (Act 921) as well as Section 227 subsection 1 of the Standing Orders of Parliament of Ghana.”
This sum is anticipated to “complement this withdrawal, as government is mobilizing support from Development Partners as well as realigning approved fiscal operations in the 2024 Budget.”
According to the Ministry, the National Emergency Response Programme would assist the government in putting the necessary measures in place to deal with the crisis.
The government has already declared that the export of important crops, such as rice, soybeans, and maize, is now prohibited.
Minister of Food and Agriculture Bryan Acheampong stated at a news conference on August 26 that “this measure is essential to ensure the availability of these critical crops on the domestic market.”
The announcement follows concerning claims that 435,872 farmers have now lost an estimated GH₵3.5 billion in investments as a result of the extended dry season.
Source: Ghanatodayonline.com
