Ken Ofori Atta Archives - Page 5 of 13

21 Jun

Afreximbank Loans To Be Exempted From Debt Restructuring – Report

wontumionlineBusinessAfreximbank 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…

20 Jun

We Are Hopeful Of Completing Outstanding Debt Restructuring By September – Ofori-Atta

wontumionlineBusinessdebt restructuring, Ken Ofori Atta

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. Ken Ofori-Atta, Finance Minister said this when he provided an update on Ghana’s economy, the IMF programme and growth agenda on Monday 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) with its bilateral creditors, Mr…

20 Jun

Afreximbank Disbursed US$7bn To Assist African Economies – Ofori-Atta

wontumionlineBusinessAfreximbank, Ken Ofori Atta

When the world was hit by the global pandemic - coronavirus - it had dire consequences on some economies, of which African economies were no exception. African countries, including Ghana, had its economy in a wobbling state for quite some time and just as the government put in measures to stabilize the economy, there was a war between Russia and Ukraine. The Russia-Ukraine war, according to the government, had impacted the Ghanaian economy negatively, hence, the move to run to the Bretton Woods Institution for a US$ 3 billion financial bailout programme. Despite this IMF programme, the Minister of Finance, Ken…

19 Jun

Ghana Hopeful Of Completing Outstanding Debt Restructuring By September

wontumionlineBusinessFinance 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

wontumionlineBusinessimf, 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

wontumionlineNewsCaptain 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

wontumionlineBusinessimf, 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…

31 May

Essipong: The Decaying Sports Stadium

wontumionlineSportsBaba Yara sports stadium, Cape Coast Sports Stadium, Essipong Stadium, Joe Ghartey, Ken Ofori Atta, Ohene Gyan Sports Stadium, Sekondi Sports Stadium

Ghana’s embattled Finance Minister during the presentation of the 2021 Budget Statement on the floor of Parliament, said there were ongoing renovation works on some stadia in Ghana; Ohene Gyan Sports Stadium, Accra; Cape Coast Sports Stadium; Baba Yara Sports Stadium, Kumasi; and Sekondi Sports Stadium, Essipong. After his pronouncement, many Ghanaians, especially those in the Western Region who knew the state of the stadium, didn’t take it lightly. One of them is the Member of Parliament for Essikado Ketan constituency, Joe Ghartey. “I write with regard to the above. The Finance Minister in the Budget Statement delivered on Wednesday,…

22 May

“We Should Not Dwell On The Past”; “Economy Is On Path Of Revitalisation” – Ofori-Atta

wontumionlineBusinessG20, imf, Ken Ofori Atta, Paris Club

Finance Minister, Ken Ofori-Atta, has indicated that Ghana should not dwell on the past, but rather see that new things are being done. According to him, the government is ready for that and the country is certainly on the path toward not just recovery but, also, revitalizing the economy. “Indeed, I think we have to move ahead, and as the good book says, we should forget the former things, we should not dwell on the past and see that new things are being done, and we are ready for that”. Speaking at a recent press briefing organised by the International…

12 May

External Creditors Close To Giving Financing Assurances For Ghana’s Debt Rework Talks

wontumionlineBusinessGhana, imf, Ken Ofori Atta

Ghana’s official creditors are poised to grant financing assurances and form a committee co-chaired by France and China – key steps for the nation to secure a $3 billion International Monetary Fund (IMF) loan, sources told Reuters. The country’s bilateral lenders are expected to formally grant financing assurances as soon as Friday – confirmation that they will then start talks to give Ghana the relief needed to make its debt sustainable, said the sources with direct knowledge of the process speaking on condition of anonymity. The assurances could pave the way for the IMF executive board to approve the $3…