Ken Ofori Atta Archives - Page 7 of 13

05 Mar

We Will Address Arrears As Part Of External Debt Restructuring – Government To Ipps

wontumionlineBusiness, Newsdebt restructuring, IPPs, Ken Ofori Atta, PPAs

Government has assured the Independent Power Producers (IPPs) that it is taking the necessary steps to address the energy sector arrears as part of its external debt restructuring. This is to forestall the build-up of future arrears and improve on efficiency within the sector. In a letter to the IPPs signed by the Finance Minister, Ken Ofori-Atta, sighted by Joy Business, government said it has rolled out a raft of structural reforms, aimed at generating sufficient cash to ensure payments in line with the respective Power Purchase Agreements (PPAs). These measures include but are not limited to the Public Utilities…

23 Feb

Government Postpones Meeting With China On Debt Cancellation To March 2023

wontumionlineBusinessChina, Finance Minister, G20 Common Framework, Ken Ofori Atta

Finance Minister, Ken Ofori-Atta, has hinted that a planned high-level government delegation to China has been postponed to late March 2023. This is owing to the upcoming National People’s Congress of China meeting scheduled for early March. However, the Finance Minister said bilateral talks will continue ahead of this important mission. The government is seeking under the G20 Common Framework for Debt Treatment to get debt forgiveness from some bilateral and multilateral partners. Key among them is China, whom Ghana is indebted to the Far East country to the tune of over $1.7 billion. This is compared with $1.9 billion…

21 Feb

Government Delegation To Visit China For Debt Cancellation

wontumionlineNewsChina, Debt cancellation, Ken Ofori Atta

A high-powered government delegation will visit China later this week to convince authorities there to accept Ghana’s proposal for debt cancellation with the Paris club. It is part of the government’s restructuring of its external debts. Ghana is hoping to restructure $5. 7 billion with China holding a third of it amounting to 1.7 billion dollars. Finance Minister Ken Ofori-Atta who is leading the delegation told Svenja Schulze, a German Minister that China has committed to a bilateral negotiation. In view of that, he is hopeful a deal can be reached to enable Ghana to present her case before the…

17 Feb

It’s Because Of Ofori-Atta That Some Of Us Don’t Go To Church – Isaac Adongo

wontumionlineNewsHon. Isaac Adongo, Ken Ofori Atta

Member of Parliament for Bolgatanga Central MP, Isaac Adongo has said that Finance Minister Ken Ofori-Atta’s ‘misuse’ of Bible scriptures has discouraged him and others from going to church. It’s because of Ofori-Atta that some of us don’t go to church – Isaac Adongo According to him, Ofori-Atta has a penchant for quoting the Bible to back policies and actions that impose hardship on ordinary Ghanaians, a habit he says brings Christianity into disrepute. The lawmaker said this among other things while speaking on the floor of parliament after the Finance Minister briefed the house about the government’s Domestic Debt Exchange Programme.…

17 Feb

You Deny Poor Pensioners Their Money And Quote The Bible? – Bolga Central MP Asks Ofori-Atta

wontumionlineNewsBible, Ken Ofori Atta

The Bolgatanga Central MP, Isaac Adongo appears to have had enough of the Finance Minister’s incessant biblical quotations during every address to the nation. Ken Ofori-Atta appeared before Parliament on Thursday to brief the legislators about the government’s Domestic Debt Exchange Programme and as has become the norm, he concluded his statement with a quotation from the Holy Book. But Mr Adongo would not have that today. He questioned the moral grounds the Finance Minister had to throw the word of God at Ghanaians while taking their hard-earned money. “As a country, we are not angry enough. This cannot happen…

17 Feb

Successful DDEP Will Build Momentum For External Debt Restructuring – Ofori-Atta

wontumionlineBusinessCommon Framework, DDEP, Ken Ofori Atta

The Minister of Finance, Ken Ofori-Atta, is confident that the successful implementation of the Domestic Debt Exchange Programme (DDEP) will build momentum for the country’s external debt restructuring programme. In an address to Parliament on Thursday, February 16, 2023, the Minister stated that the completion of the DDEP, which was aimed at alleviating the country’s debt burden in a transparent and efficient manner, would help pave the way for a much-needed external debt restructuring programme. The DDEP, part of the government’s broader fiscal policy to address the country’s current macroeconomic challenges, restore macroeconomic stability and put Ghana on a sustainable…

16 Feb

Full Text: Ken Ofori-Atta’s Statement To Parliament On DDEP

wontumionlineNewsDomestic Debt Exchange Programme (DDEP), Finance Ministry, Ken Ofori Atta, Parliament

The Finance Minister, Ken Ofori-Attah was in Parliament on Thursday to present a statement on the country’s Domestic Debt Exchange Programme (DDEP). He clarified those who were exempted from the Programme including pensioners who have been picketing the Finance Ministry since last week. The Finance Minister confirmed that all pensioners who failed to tender their old bonds for new ones under the exercise have been exempted from the programme. Addressing Parliament on the state of the Domestic Debt Exchange Programme, Mr Ofori-Atta said the pensioners have nothing to worry about. Read his full statement below; 1. Right Hon. Speaker and…

16 Feb

Finance Minister To Appear Before Parliament Today Over Debt Exchange Programme

wontumionlineNewsDebt exchange programme, Finance Minister, Ken Ofori Atta, Parliament

The Finance Minister, Ken Ofori-Atta will today, Thursday, February 16, appear before Parliament over the controversial Debt Exchange Programme (DDE). The Minister is expected to brief the house on the exercise. The Speaker of Parliament summoned the Minister after the North Tongu MP raised the matter in the house. Samuel Okudzeto Ablakwa’s concern was due to the ongoing picketing at the Finance Ministry by pensioner bondholders for an exemption from the programme. Deputy Majority Leader, Alexander Afenyo-Markin presenting the business statement of Parliament last Friday said it was necessary for the Minister to appear before Parliament to provide answers to…

16 Feb

Your Continuous Picketing At The Finance Ministry Is Unnecessary – Ken Ofori-Atta to pensioners

wontumionlineBusinessKen Ofori Atta

The Minister of Finance, Ken Ofori-Atta has advised the pension bond holders to stop their continuous picketing at the ministry. Ken Ofori-Atta He said the picketing over the controversial domestic debt exchange programme is unnecessary because the exercise was voluntary. He maintains that the voluntary exercise has concluded and that the government will honour its obligations to bondholders, including retirees who voluntarily opted not to participate in the programme. Addressing pensioners on Wednesday, February 15, the Finance Minister stated that the picketing is now unnecessary. “Really, there is no reason for us to be sitting here because that assurance has…

14 Feb

Coupon Payments And Maturing Principals Will Be Honoured – Government

wontumionlineBusinessDebt exchange programme, Finance Minister, Government, Ken Ofori Atta

The Government has assured persons who refused to participate in the just ended Domestic Debt Exchange Programme that they will be paid their outstanding coupons and maturing principals. According to the government, this will be done with Government fiscal commitments. “The Government would like to reassure all individual bondholders who elected not to participate that your coupon payments and maturing principals, like all Government bonds, will be honoured in line with Government fiscal commitments,” the government said in a statement issued by the Ministry of Finance on Tuesday, February 14. The Government in the said statement also thanked the people…