Finance Minister Seeks GHC500m Emergency Funding To Tackle Looming Food Insecurity

 

The Minister for Finance, Dr. Mohammed Amin Adam, has made an urgent request for GH₵500 million from the Contingency Fund to combat the escalating drought crisis in the northern regions.

The move comes as the country faces a severe food insecurity threat due to a prolonged dry spell that has disrupted agricultural activities.

Background

Ghana has been experiencing a prolonged drought since June, affecting over 100,000 farmers and threatening food production.

The situation has been exacerbated by climate change, which has led to unpredictable weather patterns.

In 2023, the country experienced a similar drought, which resulted in a significant decline in crop yields and food shortages.

Government Response

The government has taken several measures to address the crisis, including a ban on grain exports to stabilize the domestic market.

However, the Finance Minister’s request for emergency funding highlights the severity of the situation and the need for immediate action.

Contingency Fund

The Contingency Fund, established in 2017, is a reserve fund that provides financial support for unexpected expenses, such as natural disasters and economic crises.

The fund has been used previously to address flooding, COVID-19, and other emergencies.

Opposition Reaction

Meanwhile, the opposition National Democratic Congress (NDC) has criticized the government’s handling of the drought crisis, accusing them of being slow to respond.

The NDC has also questioned the government’s decision to ban grain exports, arguing that it will harm farmers who rely on exports for their livelihood.

Expert Analysis

Agricultural experts have warned that the drought crisis could have long-term consequences for Ghana’s food security if not addressed promptly.

They argue that the government needs to invest in irrigation systems and climate-resilient agriculture to mitigate the effects of climate change.

-BY Daniel Bampoe

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