Ghana CARES explained

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] [8]} 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'.^[9]

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.^{[10] [11]}

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.^[12]

Partners

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

Notes and References

1. Web site: 2020-11-18. Govt launches GH¢100 billion Ghana CARES programme. 2020-11-20. www.ghanaweb.com. en.
2. Web site: 2020-11-19. Ghana CARES programme launched to revitalise the economy. 2020-11-20. www.ghanaweb.com. en.
3. Web site: Agency. Ghana News. 2020-11-19. Ghana CARES programme launched to revitalise the economy. 2020-11-20. News Ghana. en-US.
4. Web site: Appiah. Augustine. Ghana CARES programme launched to revitalise the economy. 2020-11-20. www.gna.org.gh. en. 2022-06-10. https://web.archive.org/web/20220610140008/https://www.gna.org.gh/1.19219991. dead.
5. Web site: 2020-11-20. Establishment of National Development Bank on course - Osafo-Maafo. 2020-11-20. www.ghanaweb.com. en.
6. News: Govt launches GH¢100bn economic recovery blueprint. 2020-11-20. Graphic Online. en-gb.
7. Web site: Petetsi. Julius Yao. 2020-05-29. Ghana: Govt to Roll Out Economic Rescue Programme--Finance Minister. 2020-11-20. allAfrica.com. en.
8. Web site: Government's initiatives to fight Covid-19 even better than those of advanced economies - Bawumia - MyJoyOnline.com. 2021-05-18. www.myjoyonline.com. 17 May 2021 . en-US.
9. 2020-10-14. Review for "Socio-economic impact of COVID-19 on Ghana's economy: challenges and prospects". 10.1108/ijse-08-2020-0582/v1/review2.
10. Web site: 2020-07-23. Government to launch ¢100bn "Ghana Cares Obaatan Pa" programme – Ofori-Atta. 2020-11-20. MyJoyOnline.com. en-US.
11. Web site: 2020-11-19. Ghana CARES programme officially launched to revitalise economy. 2020-11-20. GBC Ghana Online. en-US.
12. Web site: 2020-07-24. Govt to inject GH¢100bn to rescue economy. 2020-11-20. Africa Global Radio. en-US.