BTA2023 Nyarko Ampem: Deputy Finance Minister-Designate Urges Ghana to Plan for Life Without Aid
The Deputy Minister-Designate for Finance, Thomas Nyarko Ampem, has called on Ghana to prepare for a future without foreign aid, citing the recent withdrawal of USAID funding as a crucial wake-up call.
“It is important that we begin to plan our lives without aid and see what we can do for ourselves,” he stated.
Declining Foreign Aid
Speaking during his vetting before the Appointments Committee, Mr. Ampem noted that foreign aid to Ghana has been decreasing over the years and may soon cease entirely. Before USAID withdrew its funding, Ghana had been expecting approximately $150 million to support essential sectors such as health, education, and the economy.
Budget Planning and Alternative Funding
Despite the funding shortfall, Mr. Ampem assured that the timing of the withdrawal was manageable since the Ministry of Finance was in the process of preparing the 2025 budget. He highlighted that President Akufo-Addo had already issued a directive to explore alternative funding sources to address the gap.
“It happened at a time, fortunately, we are in the process of preparing the 2025 budget. So I am sure the Minister would be able to make provision to bridge the gap,” he added.
A Path to Self-Sufficiency
As Ghana moves towards financial independence, the government is expected to implement strategies that reduce reliance on foreign aid while strengthening domestic revenue generation and economic resilience. Mr. Ampem’s remarks signal a shift in focus towards self-reliance and sustainable development policies.
