Ken Ofori-Atta Archives - Page 3 of 5

01 Aug

Mid-Year Budget : Kwakye Warns Govt Against Actions That Can Disturb Subsequent Release Of IMF Cash

Wontumi1BusinessDr John Kwakye, Finance Minister IMF, Ken Ofori-Atta

Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has warned the government against actions that can disturb the release of the second tranche of the 3 billion IMF cash. This was after he said that the Mid-Year budget review that was presented by Finance Minister Ken Ofori-Atta was a rehash of the International Monetary Fund (IMF) programme. “The programme has strict quantitative and structural performance criteria that must not be breached in order not to forfeit subsequent financial disbursements,” Dr Kwakye tweeted. The Minister of Finance Ken Ofori-Atta has said that overall first-quarter growth for…

28 Jul

Finance Minister To Engage Mps Ahead Of 2023 Mid-Year Budget Review

Wontumi2BusinessKen Ofori-Atta

The Minister of Finance, Ken Ofori-Atta will on Friday, July 28, 2023, engage Members of Parliament in intensive discussions ahead of the government’s presentation of the 2023 Mid-Year Budget Review. The discussions are expected to provide updates on the government's fiscal plans for the remainder of the 2023 financial year as well as chart a path towards economic stability and growth. Speaker of Parliament, Alban Bagbin addressing lawmakers on the floor of the House urged them to avail themselves to make inputs into the mid-year budget review which will be presented by the Finance Minister on July 31, 2023. “Basically, it will be focusing on the welfare…

24 Jul

Finance Minister To Present Mid-Year Budget Review On July 25, 2023

Wontumi1BusinessKen Ofori-Atta, Mid-year budget review

The Minister of Finance, Ken Ofori-Atta, will present the Mid-Year Budget Review to Parliament tomorrow July 25, 2025, a source from the Finance Ministry has confirmed to Joy Business. Joy Business is learning that there will be no supplementary budget. It is coming at a time the economy has witnessed some improvement after experiencing a turbulent period in 2022. From the July 2023 Summary of Economic and Financial Data by the Bank of Ghana, the indicators show a remarkable improvement in the economic fundamentals of the country. Many believe it is due to the International Monetary Fund Programme that has…

18 Jul

We Are On Course For First Successful Review Of IMF Programme In November 2023 – Ofori-Atta

Wontumi1Businessbilateral creditors, IMF, Ken Ofori-Atta, World Bank

Finance Minister, Ken Ofori-Atta, has indicated that the country is on course for the successful completion of its first review of the International Monetary Fund (IMF) Programme in November 2023 and the subsequent disbursement of an additional $600 million. According to him, Ghana will finanlise a Memorandum of Understanding with its official bilateral creditors before the first review of the IMF Programme is completed in November 2023. Disclosing this when the World Bank Managing Director for Operations, Anna Bjerde paid a courtesy call on him, Mr. Ofori-Atta, said Ghana is complying with all the conditions stipulated by the programme. “We…

13 Jul

Some Financial Sector Stakeholders Commend Ofori-Atta For Fulfilling His Promise To Domestic Bondholders

Wontumi1BusinessDDEP, Extractive Governance Reporting Centre, Ken Ofori-Atta, Ministry of Finance

Some stakeholders in Ghana’s economic and financial sector have commended the Minister of Finance, Ken Ofori-Atta, for fulfilling his promise to the domestic bondholders, a move that has finally ended the agitations and complaints that surrounded the government’s Domestic Debt Exchange Programme. The Extractive Governance Reporting Centre (EGRC) in a statement acknowledged the sincerity of the finance minister and officials of the Ministry of Finance in their dealings with the domestic and individual bondholders. “We are happy that the concerns of the individual bondholders have been addressed. Let’s all support the Finance Minister, Ken Ofori-Atta and the government to address…

21 Jun

Afreximbank Loans To Be Exempted From Debt Restructuring – Report

Wontumi1BusinessAfreximbank loans, Ken Ofori-Atta

Finance Minister, Ken Ofori-Atta, intends to shield loans received from the African Export and Import Bank (Afreximbank) from the ongoing debt restructuring efforts. As Ghana grapples with a severe economic crisis and aims to renegotiate $20 billion in external debt to secure better terms and recover from the financial challenges, Afreximbank loans are also expected to be exempted. To qualify for the next instalments of the $3 billion loan agreement with the International Monetary Fund (IMF), Ghana aims to reduce its external debt repayments by $10.5 billion over the next three years. According to Reuters, Ofori-Atta expressed determination to exempt…

19 Jun

Ghana Hopeful Of Completing Outstanding Debt Restructuring By September

Wontumi1BusinessFinance minister, IMF, Ken Ofori-Atta

The Government says it is hopeful of completing Ghana’s outstanding debt restructuring by September 2023 for a fruitful implementation of the US$3 billion International Monetary Fund (IMF) loan-support programme. Mr Ken Ofori-Atta, Finance Minister said this when he provided an update on Ghana’s economy, the IMF programme and growth agenda on Sunday evening in Accra. He said that the Government had “successfully worked with the Paris Club and other creditors to determine the parameters for official debt restructuring under the G20 common framework for debt treatment.” The country was also in the process of getting a Memorandum of Understanding (MoU)…

08 Jun

Ofori-Atta Must Be Supported To Fully Implement IMF Programme – Analysts

Wontumi1BusinessIMF, Ken Ofori-Atta

Some financial analysts want the Minister of Finance, Ken Ofori Atta, to ensure that Ghana derives maximum benefits from the International Monetary Fund programme. According to them, he must make sure that conditionality does not outweigh the success and benefits expected to be attained. Some people have expressed sentiments about the programme, especially the decision by the IMF not to release the $3 billion in bulk for the full implementation for the three-year period. Instead, the IMF is releasing the funds in tranches and further supervising and guiding the government in revising policies and programmes as part of the conditions.…

07 Jun

Ofori-Atta Joins Captain Smart’s Employers To GH¢10m Defamation Suit

Wontumi2NewsCaptain Smart, Ken Ofori-Atta, Media General Ghana Ltd

Finance Minister Ken Ofori-Atta has joined Media General Ghana Ltd., the owner of Onua TV and Onua FM, to an earlier defamation suit against the company's presenter Blessed Godsbrain Smart (Captain Smart). The host on the synched morning show of both the TV and radio stations, suggested on one of his editions that Mr Ofori-Atta got 10 per cent of the IMF's recently-approved US$3 billion bailout facility for Ghana. In his amended statement of case filed on Monday, 5 June 2023, Mr Ofori-Atta stated that Media General Ghana Ltd (the second defendant), by its actions and inactions, looked on, permitted…

01 Jun

$3 Billion Bailout: Ghana In Position To Meet All Of IMF’s Targets – Ken Ofori-Atta

Wontumi2BusinessIMF, Ken Ofori-Atta

Finance Minister, Ken Ofori-Atta, has assured that Ghana is in a position to meet the requirements for fiscal consolidation under the just approved International Monetary Fund programme for the country. Addressing participants at the Capital Market Day’s event organized by the MTN Group in South Africa, Ken Ofori-Atta said despite the wave of conditionalities under the programme, government remains confident in meeting all targets set by the IMF. “When we came into government, we inherited an IMF program which was supposed to take almost three to four years and within two years we exited that. So, our capacity to do that is very clear to…