Finance Minister Ken Ofori-Atta Archives - Page 4 of 5

06 Dec

TUC Expresses Grave Concern Over Lack Of Engagement On Govt’s Debt Exchange Programme

wontumionlineBusinessFinance Minister Ken Ofori-Atta

The Trades Union Congress (TUC) has expressed grave concern about the government's failure to engage labour unions before launching its Domestic Debt Exchange programme. Ken Ofori-Atta According to the labour union, the programme has a negative impact on workers' pensions. Secretary of the TUC, Dr. Yaw Baah in a statement said "We are equally concerned about the lack of prior engagement with Labour given that a substantial portion of worker's pension is invested in government bonds." The TUC's reaction followed the government's move to rely on a softer payment plan with institutions and individuals who have lent money to the country as…

05 Dec

Debt Exchange: Greece Used Force To Ensure Participation; Ghana Doesn’t Want To Do That – Ofori-Atta

wontumionlineBusinessFinance Minister Ken Ofori-Atta

Finance Minister Ken Ofori-Atta has said that Ghana is not the first nation to undertake domestic debt operation in the form of the Debt Exchange programme that has been launched. He explained that Jamaica resorted to such operations in the past, notably in 2010 and 2013. In both cases, he said, it chose to trust the sense of responsibility of the Jamaican people and proceeded through a voluntary approach. This approach was highly successful, as more than 99% of holders of domestic bonds participated in the exchange, he stated. On the contrary, he added, in the case of Greece, the Authorities…

29 Nov

Ghana’s Public Debt Increased By GH¢93 Billion Due To Cedi Depreciation – Ofori-Atta

wontumionlineNewsCEDI DEPRECIATION, Finance Minister Ken Ofori-Atta, Ofori Atta

Ken Ofori-Atta, Minister of Finance, stated in the 2023 budget statement that Ghana’s public debt has increased by GH¢93 billion ($6.53 billion at the current rate) due to the depreciation of the Ghanaian cedi alone since the beginning of 2022. According to him, the said amount is twice more than the much-anticipated $3 billion bailout Ghana is seeking from the International Monetary Fund (IMF). In the 2023 budget statement, the cedi has depreciated by 53.8% and 54.2% against the dollar as of October 2022 and November 2022. The depreciation is due to the fact that the country cannot access the International Capital…

24 Nov

Government To Increase VAT By 2.5% in 2023 – Ken Ofori Atta

wontumionlineNewsbudget, Finance Minister Ken Ofori-Atta

The Finance Minister has said that the government wishes to increase the country's Value Added Tax (VAT) by 2.5 percent in 2023. According to him, the proposal to increase the rate forms part of the government's seven-point agenda to revitalize the economy. The Finance Minister said this while presenting the country's 2023 budget at Parliament on Thursday, November 24, 2022. The standard VAT rate is 12.5%, except for supplies of a wholesaler or retailer of goods, which are taxed at a total flat rate of 3%. He also announced that the government will undertake major structural reforms in the public…

24 Nov

#2023 budget: E-levy Rate Charged Reduced From 1.5% to 1.0%-

wontumionlineFeatured, News, Trending2023 Budget, E-levy, Finance Minister Ken Ofori-Atta

The finance minister, Ken Ofori Atta, has announced that the government intends to review the E-levy policy and hence the rate charged will be reduced from 1.5 percent to 1 per cent. Delivery the budget statement for 2023 fiscal year, Ofori-Atta noted that this is part of the government of Ghana's effort to increase the domestic revenue mobilization target of the government. He further gave a hint that the daily threshold criteria for the payment of the e-levy will also be reviewed. Meaning, the GHc 100cedi threshold which was initially communicated will be reviewed by the government. The finance minister…

22 Nov

CHRAJ Petitioned By Anas To Investigate Ofori-Atta

wontumionlineBusinessAnas, Finance Minister Ken Ofori-Atta

Investigative journalist Anas Aremeyaw Anas has petitioned the Commission for Human Rights and Administrative Justice (CHRAJ) to investigate the Finance Minister Ken Ofori-Atta. The petitioner raised issue of conflict of interest against the Finance Minister for which he should be investigated. CHRAJ boss Joseph Whittal told journalists on Monday November 21 that “The allegations are that there is conflict of interest in terms of their official duties as public officers and the companies in which they have interest in terms of government bonds and so the case is going through the standard process of assessment in order to make sure…

22 Nov

NDC MP Explains Why Ofori-Atta Has Been Isolated For Blame Over Economic Woes

wontumionlineBusinessFinance Minister Ken Ofori-Atta

Even though the Minister of Finance Ken Ofori-Atta is not the only person in charge of the economy, he is the head of the team at the Finance Ministry hence, the decision to position him for blame over the economic challenges facing the country, Member of Parliament for Sene East, Dominic Napare, has said. Mr Napare indicated that the economic management including budget preparations, is the function of the entire team. Ordinarily, he said, the entire team should be held liable for the pitfalls but Mr Ofori-Atta has been singled out because he presents the budget to Parliament. Mr Ofori-Atta is expected…

22 Nov

Terkper Reveals Lessons He Picked From Finance Minister’s Censure Hearing

wontumionlineBusinesscensure hearing, Finance Minister, Finance Minister Ken Ofori-Atta, Terkper

Former Finance Minister Seth Terkper has revealed the lessons he learnt from proceedings during the hearing of the censure motion against his successor Ken Ofori-Atta by the 8-member committee. Mr Ofori-Atta appeared before the committee on Friday November 19 to respond to allegations made against him by the Minority for which they filed the motion to get him removed from office. He said among other things that the proponents of the motion should not confuse Contingency vote with Contingency Fund with respect to funding for the National Cathedral project. He said funds were taken from the Contingency Vault for the…

22 Nov

Ken Ofori-Atta Remains The Best Finance Minister Ghana Has Ever Had- Krobea Asante (VIDEO)

wontumionlineFeatured, News, TrendingFinance Minister Ken Ofori-Atta, John Dramani Mahama, Ken Ofor-Atta, Kwaku Dawuro, Movement In The Morning

National Communication director for the New Patriotic Party, George Krobea Asante, says Ghanaians are fortunate to have Ken Ofori-Atta since he is by far the best Finance Minister Ghana has ever had. In an interview with Kwaku Dawuro, on Movement In The Morning on Wontumi radio/Movement TV, Krobea made reference to increase in GDP, economic growth amongst others in the past few years to solidify his point of Ken Ofori-Atta being Ghana's best Finance Minister. He said that ''From where the Finance Minister is sitting, his explanations which made sense during his speech has been accepted. You see, there are…

21 Nov

Ghana Has Faced Economic Challenges Since Independence But Always Comes Out Stronger – Ofori-Atta

wontumionlineBusinessFinance Minister, Finance Minister Ken Ofori-Atta

Finance Minister Ken Ofori-Atta has said that as a nation, Ghana is being tested with the current economic challenges facing its people. He said the country’s circumstances require a united and concerted response to the crisis. “I implore our chiefs, elders and churches to take the mantle and speak a common language. Let us all work as one country to support labour negotiations, find a solution to the impasse in Parliament and rise above witch-hunting and entrapment,” he told the 8-member committee that was investigating the allegations made by the Minority against him, on Friday November 18. He added that these…