The Secretary General of the Trades Union Congress (TUC), Dr Yaw-Baah, has expressed concerns about the low wages in Ghana, stating that they have a direct impact on the pension of retirees, making it difficult for them to meet their basic needs during retirement.
Speaking at this year’s May Day celebration, Dr Yaw-Baah highlighted the challenges faced by workers due to the low wages in both public and private institutions. He emphasized that low pensions resulting from low wages are a major issue affecting retirees in the country.
Despite the economic challenges faced by workers, Dr Yaw-Baah noted that the IMF bailout program has not produced the desired outcomes. He expressed skepticism about the effectiveness of the IMF bailout in addressing the economic hardships faced by workers in Ghana.
Addressing the issue of the falling value of the Cedi, Dr Yaw-Baah stressed the importance of reducing imports to stabilize the local currency. He emphasized the need to consume more locally produced goods to lessen the strain on the Cedi caused by importing foreign goods.
As Ghana prepares for the 2024 general elections, the theme of this year’s May Day celebration is “Elections 2024: The Role of Workers and Social Partners in Securing Peaceful Elections for National Development.” Dr Yaw-Baah called on the Electoral Commission, the Police, and the judiciary to ensure free, fair, and transparent elections for the country’s development.
In conclusion, Dr Yaw-Baah reiterated the importance of supporting local industries and reducing importation to strengthen the Cedi and improve the economic prospects for workers in Ghana.
