- Source: Ghana CARES
Ghana COVID-19 Alleviation and Revitalisation of Enterprises Support (Ghana CARES) was launched by Nana Akufo-Addo on 18 November 2020 in Accra. Some source also claimed it was launched by Yaw Osafo-Maafo. The program is in two phases. It is also known as "Obaatan Pa”. The program is claimed to serve as a 'blueprint' for Ghana's economy recovery post COVID-19. According to Osei Kyei Mensah Bonsu, the Ghana CARES program 'is the boldest and biggest economic recovery program in the country's history, will enable the country to turn the challenges created by COVID-19 into opportunities for socioeconomic transformation'.
Phases
The initiative was sequenced in two phases:
Stabilisation Phase that would run from July to the end of the year (2020); and
Medium-term Revitalisation Phase (to be implemented from 2021 to 2023) would revitalise the economy and accelerate the Ghana Beyond Aid transformation agenda.
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.
Partners
IMF
World Bank
African Development Bank Group
EU