Ghana’s Mahama Scraps Seven Government Ministries to Save Costs

(Bloomberg) -- Ghana’s President John Mahama has scrapped seven government ministries as part of a cost-saving measure under the International Monetary Fund’s austerity program, the president said in an e-mailed statement.

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The new government will work with 23 ministries instead of the original 30 to fulfill a pledge for a leaner and more effective administration. The country sought a $3 billion bailout from the Washington-based lender in 2022 because it couldn’t keep up with debt payments.

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Mahama was elected leader of the world’s second-largest cocoa grower with a commanding victory in a Dec. 7 poll amid voter anger over economic hardship. He has vowed to restore and stabilize the economy, but his administration faces challenges including crippling debt, high living costs and unemployment.

NOTE: Ghana’s Mahama Resumes Power After Eight Years in Opposition (1)

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