Kumasi Teachers Demand Payment Of 6-Month Mutual Funds Arrears From Government: “We Are Fed Up”

• The Concerned Teachers Association of Ghana in Kumasi is demanding the payment of their 6-month outstanding arrears of mutual funds
• Godfred McThetheh Ansah, the chairman of the group, told YEN.com.gh that teachers were fed up with the situation
• They are linking these struggles to the haircut conditionalities associated with the International Monetary Fund deal

The Concerned Teachers Association of Ghana in Kumasi is demanding the payment of their 6-month outstanding arrears of mutual funds from the government.

They have threatened action if their demands are not met.

The group has complained that the government has disregarded their welfare and has continuously delayed the release of mutual funds.

They are linking these struggles to the haircut conditionalities associated with the International Monetary Fund bailout.

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Godfred McThetheh Ansah, the chairman of the group, told YEN.com.gh that the state has not engaged his association.

"If the government had engaged our leadership, those at the national front, they would have informed us that this is what the government is saying.”

"This mutual fund that I am also investing for my future and my welfare, why do you keep it for six months before you release it to me. It is uncalled for."

"We have been silent for long… we are fed up with it,” Ansah added.

The group has given the government a month to address their concerns, but Ansah stopped short of saying they would go on a strike.

Because of the IMF deal, the government has restructured a number of debts, leading to haircuts.

This led to protests from a number of interest groups, like pension fund bondholders who held Ghana-denominated notes and bonds.

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Pensioners picketed at the Finance Ministry, demanding the payment of their coupons and principles until they were settled.

IMF approves second $600 million payout to Ghana after debt restructuring

YEN.com.gh reported that the IMF agreed to disburse a second $600 million to Ghana as part of a three-year bailout programme.

The payout was approved after the government restructured the debt owed to some creditors.

Ghana earlier received a draft term sheet on debt relief from creditors that satisfied the IMF.

Source: YEN.com.gh