Ken Ofori Atta Archives - Page 10 of 13

09 Dec

You’ve Been Able To Prove Your Point, Now Call It A Day!- Chairman Nkansah Newlove To Ken Ofori-Atta.

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Chairman Nkansah Newlove, of the New Patriotic Party, has reiterated that Finance Minister, Ken Ofori-Atta should call it a day and step down. Speaking on Movement In The Morning, with Kwaku Dawuro, on Movement TV/Wontumi radio, Mr Newlove noted that Ken Ofori-Atta successfully proved a point that he was still worth keeping as the Finance Minister. According to Newlove, he would step down if he was Ken Ofori-Atta. He stated that ''Ken Ofori-Atta wanted to prove a point that he was blameless of anything, which he succeeded in doing so and majority backed him. If you observed yesterday, the manner…

08 Dec

Debt Exchange: Stress Tests Conducted For Banks, Insurance Firms, Asset Managers, Others

wontumionlineBusinessDebt exchange, Ken Ofori Atta

Following the creation of the Debt Exchange Programme by the Finance Minister Ken Ofori-Atta, the Bank of Ghana (BoG) has announced that stress tests have been conducted by the relevant financial sector regulators to estimate the potential impact of the programme for banks, specialised deposit-taking institutions (SDIs), insurance firms, asset managers, collective investment schemes, pension fund trustees, and regulated pension schemes, that could result from their participation in the debt exchange. The BoG said to help manage the potential impacts of the Debt Exchange on the financial sector, financial sector regulators will deploy all regulatory and supervisory tools to mitigate risks…

08 Dec

GSIA Rejects Debt Exchange Programme

wontumionlineBusinessFinance Minister, GSIA, Ken Ofori Atta

The Ghana Securities Industry Association (GSIA) has rejected the Debt Exchange Programme offered by government. The Association, which is made up of security exchange firms, as well as investment and capital market operators argue that the programme is not acceptable in its current form. They also expressed surprise that an earlier industry consultative inputs was not factored, when the Debt Exchange Programme was launched on December 5, 2022 by the Finance Minister, Ken Ofori-Atta. The Association in a statement argued that a bond is an agreement between two parties hence, any changes to the terms must be agreed to by…

05 Dec

Debt Exchange Programme Is Key Requirement For IMF deal – Ofori-Atta

wontumionlineBusinessDebt exchange programme, imf, Ken Ofori Atta, Minister of Finance

The Minister of Finance, Ken Ofori Atta, has admitted that the launched Debt Exchange Programme is part of a key requirement for the government to get an economic deal from the International Monetary Fund. According to him, the government has no choice but to undertake the debt restructuring programme to put the debt level on a sustainable path. An IMF mission team is presently in the country to continue discussions with the authorities on the country’s post-COVID programme for economic growth and associated policies and reforms that could be supported by a new IMF lending arrangement. The Finance Minister however…

05 Dec

Domestic Debt Exchange: No Haircut On Treasury Bills, Principal Bonds – Gov’t

wontumionlineBusinessKen Ofori Atta, No Haircut On Treasury Bills

Government has announced that there will be no “haircut” on the principal of bonds and that individuals with government bonds will have their full investments on maturity. In a public address on the recent debate about possible haircuts on all bonds and treasury bills following government’s debt restructuring deal with the International Monetary Fund (IMF), Finance Minister, Ken Ofori-Atta said government will ensure that people’s investments are safe. “Treasury Bills are completely exempted, and all holders will be paid the full value of their investments on maturity. There will be no haircut on the principal of bonds. Individual holders of…

24 Nov

2023 Budget: Government To Cut Imports Of Public Institutions By 50%

wontumionlineBusiness2023 Budget, Ken Ofori Atta

The Finance Minister, Ken Ofori-Atta has announced some measures in the 2023 Budget aimed at boosting the local productive capacity of the economy. Outlining the measures on the Floor of Parliament, Mr. Ofori-Atta said government will cut the imports of public sector institutions that rely on imports either for inputs or consumption by 50%. It will therefore work with the Ghana Audit Service and the Internal Audit Agency to ensure its compliance. He added that government will support the aggressive production of strategic substitutes, including the list disclosed at the President’s last address to the nation. “We will also support…

24 Nov

2023 Budget Hinges On 7-Point Agenda For Economic Transformation – Ofori-Atta

wontumionlineBusiness2023 Budget, Ken Ofori Atta

Finance Minister, Ken Ofori-Atta has pointed out that the 2023 Budget is anchored on a seven-point agenda aimed at restoring macro-economic stability and accelerating Ghana’s economic transformation as articulated in the Post-COVID-19 Programme for Economic Growth (PC-PEG). These comprise an agenda to aggressively mobilize domestic revenue, streamline and rationalise expenditures, boost local productive capacity, promote and diversify exports, protect the poor and vulnerable, expand digital and climate-responsive physical infrastructure and implement structural and public sector reforms. To achieve these, Mr. Ofori-Atta said there are three critical imperatives which are; successfully negotiating a strong International Monetary Fund programme, coordinating an equitable…

24 Nov

Govt Will Freeze Hiring Of Public And Civil Servants From January 2023 – Ofori-Atta

wontumionlineNewsbudget, Ken Ofori Atta

The Minister of Finance, Ken Ofori-Atta has disclosed that their will be a freeze in government employment from next year. According to him there will be an embargo placed into recruiting for the civil and public services from January, 2023. This, he said, at the ongoing budget presentation at Parliament House in Accra. “[There'll be] a hiring freeze for civil and public servants [from January 2023]. A reduction of expenditure on appointments, including salary freezes, together with suspension of certain allowances like housing, utilities & clothing.” Additionally, the Minister announced that VAT will be increased by 2.5%. The standard VAT…

21 Nov

Those Calling For The Resignation Of Ken Ofori-Atta Are Having A Change Of Mind- Lawyer Ampaw

wontumionlineNewsKen Ofori Atta, Lawyer Maurice Ampaw

After appearing before an ad-hoc committee of Parliament last Friday, Lawyer Maurice Ampaw has stated that Mr. Ken Ofori-Atta has managed to exonerate himself and wooed some people who were calling for his resignation to his side. Lawyer Ampaw stated on Wontumi TV last Sunday that the live telecast of the motion of censure which was put before Parliament, highlighted how “honest” and “truthful” the Finance Minister of Ghana is. “Now some of the people calling for his resignation are having a change of mind”, Lawyer Ampaw said on TV which was monitored by Wontumionline.com. VIDEO below... https://youtu.be/btuWd-MQtJE Mr. Ofori…

18 Nov

I’m Up For What Protects The Presidency- Joe Wise

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First deputy Speaker of Parliament and Member of Parliament for Bekwai, says he is only interested in what protects the presidency with regards to being for or against the stepping down of the Finance Minister, Ken Ofori-Atta. In an interview with Kwaku Dawuro on Movement In The Morning on Movement TV/ Wontumi radio, Honorable Joseph stated that he does not stand with or against the 98 MPs who are in support of the Finance Minister resigning from his position, due to the mismanagement of the country's finances leading to economic hardship. He said ''What we've told the President which I…